Commenting on the Spending Review 2010, North East Herts MP Oliver Heald said, “Britain’s deficit is the largest in the G20 with the State borrowing £ 1 in every £ 4 that it spends. Against this background, I am pleased that the Spending Review has protected the Health and Education Budgets, resolved the Equitable Life issue at a far higher figure than expected and increased the number of apprenticeships and help for those seeking work, whilst protecting the interests of pensioners, children from low income households and the most vulnerable in society.
“In the East of England, the £ 1.4 billion Growth Fund will help with economic growth, as will the new Green Investment Bank, and the funding for the new building at the Laboratory for Molecular Biology in Cambridge will help jobs. The upgrading of the A11 will also improve links between the M11 and Norwich, which will be useful for local businesses.
“By tackling the deficit now, we will see long term economic growth improving by the end of this Parliament with a strong private sector-led recovery. If we had simply left matters, our children and future generations would be laden down with debt for years.”