Lord Taylor of Warwick – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Taylor of Warwick on 2016-04-18.

To ask Her Majesty’s Government, in the light of comments by the head of the IMF regarding threats to the global economy, whether they are preparing any contingency plans.

Lord O’Neill of Gatley

Since 2010 the UK has made significant progress in developing its economic security. The public finances have improved and the deficit as a share of GDP has now been cut by almost two-thirds from its post-war peak. The financial sector is more resilient, and household finances are more robust with interest payments as a proportion of income the lowest level on record in 2015.

However, the UK is not immune from global risks, which is why, as I set out in the debate on the Economy last week, it is vital we continue with our long-term economic plan focused on ensuring sound public finances, while delivering the supply-side reforms necessary to boost productivity and deliver long-term sustainable growth.