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60532

registered interest
date	09/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic Situation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the time taken for the United Kingdom economy to return to recovery in comparison to other leading countries; and what they consider to be the reasons for the differences in those timescales.
tabling member printed	Lord Birt
uin	HL121
answer	answer is ministerial correction date of answer 17/06/2014 answer text <p>UK GDP fell 7.2% between the first quarter of 2008 and the third quarter of 2009. Of the G7 economies Japan was the only one that had a deeper recession, and the depth of UK recession was almost twice that of the US.</p><p>Thanks to the government's long term economic plan, since the trough of the recession the UK has grown faster than France, Italy, Spain and the euro area as a whole. In the year to the first quarter of 2014 the UK grew faster than any other G7 economy, the deficit has fallen by over a third as a share of GDP since 2009-10 and there are more people in work than ever before. But the job is not yet done and the biggest risk now to the recovery would be abandoning the plan that is delivering a brighter economic future.</p><p> </p><p> </p> answering member printed Lord Deighton question first answered 17/06/2014 15:41:06 answering member 4262 label Biography information for Lord Deighton
tabling member	2533 label Biography information for Lord Birt

49802

registered interest
date	06/05/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they intend to reduce the ratio of national debt to gross domestic product to below 40 per cent; and, if so, in which year.
tabling member printed	Lord Birt
uin	HL6822
answer	answer is ministerial correction date of answer 13/05/2014 answer text <p>As set out in Budget 2014, given the costs and risks of high levels of debt, once the supplementary debt target has been met, any future government will need to ensure that debt continues to fall as a percentage of GDP. Even in the absence of future shocks sustained action will be needed to bring down debt.</p><p> </p><p> </p> answering member printed Lord Deighton question first answered 13/05/2014 12:00:00 answering member 4262 label Biography information for Lord Deighton
tabling member	2533 label Biography information for Lord Birt