division_name: Charter for Budget Responsibility
motion: <p class="indent" pid="b895.1/2" pwmotiontext="yes">That this House calls on the Government to withdraw the Charter for Budget Responsibility: Autumn 2015 update, which was laid before this House on <phrase class="date" code="2016-10-12">12 October</phrase> 2015, and to lay before the House at the earliest opportunity an alternative update which provides the basis for stabilising the UK economy and providing long-term investment for growth.</p>
  
  <p class="indent" pid="b896.2/3" pwmotiontext="yes">&#8220;biggest load of nonsense that this Government have had the audacity to bring to Parliament in this Session&#8221;.&#8212;[Official Report, <phrase class="date" code="2016-01-05">5 January</phrase> 2010; Vol. 503, c. 72.]</p>
  
  <p class="indent" pid="b897.2/2" pwmotiontext="yes">&#8220;no policy direction, no messaging, no direction, no co-ordination, no nothing&#8221;?</p>
  
  <p class="indent" pid="b897.3/3" pwmotiontext="yes">&#8220;We now expect the debt-to-GDP ratio to rise between 2014-15 and 2015-16&#8221;.</p>
  
  <p class="indent" pid="b910.0/9" pwmotiontext="yes">&#8220;ambitious relative to the fiscal performance of past governments&#8221;.</p>
  
  <p class="indent" pid="b915.3/3" pwmotiontext="yes">&#8220;The Treasury&#8217;s objectives for fiscal policy are to: ensure sustainable public finances that support confidence in the economy, promote intergenerational fairness, and ensure the effectiveness of wider Government policy&#8221;.</p>
  
  <p class="indent" pid="b916.0/8" pwmotiontext="yes">&#8220;Discontent with neoclassical economics has finally boiled over with the failure of Treasury civil servants and central bankers along with almost all academic economists to anticipate the largest recession since the 1930s, and the powerlessness of these policymakers in the face of the subsequent stagnation of output.&#8221;</p>
  
  <p class="indent" pid="b917.0/4" pwmotiontext="yes">&#8220;The charter before us today&#8230;has little basis in economics.&#8221;&#8212;[Official Report, <phrase class="date" code="2016-10-14">14 October</phrase> 2015; Vol. 600, c. 437.]</p>
  
  <p class="indent" pid="b917.0/10" pwmotiontext="yes">&#8220;When we take the big calls we will think not of the powerful, but you.&#8221;</p>
  
  <p class="italic" pid="b922.1/9" pwmotiontext="yes">The House divided:</p>
  
  <p pid="b922.1/10" pwmotiontext="yes">Ayes 213, Noes 283.</p>