Biography Chronology Home Search Speeches/Statements

1993 - Mr Major’s Comments on Borrowing

Below is the text of Mr Major’s comments on the proposal by Jacques Delors to borrow money to fund new jobs. The comments were made in Brussels, Belgium, on 10th December 1993.


QUESTION:

[Mr Major was asked whether he wanted to create employment].

PRIME MINISTER:

The point of issue is not whether we want jobs or not – of course we want jobs – the point of issue is whether it is a successful way to do that by taking a large, fresh loan at precisely the moment that every other country in the European Community is cutting down on its borrowing, and patently it isn’t.