L

Lord Lamont of Lerwick (Con)

Speaking in the House of Lords on 25 April 2025

Debate

National Debt: It’s Time for Tough Decisions (Economic Affairs Committee Report)

Contribution

I am very grateful to the Minister for answering my question about primary surplus. He said that the OBR is saying that there will be a surplus in 2029-30. Am I not right in saying that that refers to the current Budget, but of course might mean that there was, overall, a primary surplus? By itself, it does not mean a primary surplus. Can the Minister indicate whether there would be an overall primary surplus, which many people are saying is necessary to alter the debt-to-GDP ratio.

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