I am quoting from the same rating agencies that rate government debt and sovereign debt around the world. That is what results in the prices of those debts being traded on the international money markets. The noble Lord, Lord Myners, knows better than anyone about the global flows of international finance. The rating levels are crucial to this, as we see when we look at the situation in Ireland. To stretch the small business analogy to its absolute limits, you can say that international confidence in the Government’s resolution to get to grips with the deficit is analogous to what many companies will have—
Finance Bill
Proceeding contribution from
Lord Bates
(Conservative)
in the House of Lords on Monday, 26 July 2010.
It occurred during Debate on bills on Finance Bill.
About this proceeding contribution
Reference
720 c1207 Session
2010-12Chamber / Committee
House of Lords chamberSubjects
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2024-04-11 18:13:25 +0100
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