John McDonnell opens Budget Debate: “This Chancellor has borrowed more in his first year than any other Chancellor in history.”


“In terms of growth we are the weakest in the G7 because in the last 7 years the Tories have weakened this economy. They were warned that Austerity wouldn’t bring the debt or deficit under control.

We all knew that an election of a Tory Government would set us back – what we didn’t know is that it would set us back a century.

The Rail investment in the whole of the North East is just 2% of the investment in Crossrail in London.

The government knows Austerity hasn’t worked, and now they are fiddling their own figures.

This Chancellor has borrowed more in his first year than any other Chancellor in history.

You can’t solve the problem of Housing Supply by driving up Housing Demand.

Debt under this government has gone up by £800 billion – and it is debt to pay for Tory failure – The Office Of Budget Responsibility were damning on this point. They have no understanding of the consequences of their policies on our people. He doesn’t seem to be aware that 1 million food parcels are being given out to the poorest children this year.

In the House of Commons Library the Treasury’s own distribution analysis tells the truth on this – and this is what it says:

The poorest 5th are being made poorer by the changes the govt are implementing. They confirm that the burden of the cuts – 86% – have fallen on women.”

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