Lord Myners, the former City minister, has called on the Chancellor to prove his claim Britain was "on the brink of bankruptcy" before the coalition government took over in May.
George Osborne used the phrase in a television interview last month to defend the government's deep cuts to public spending, announced in the Comprehensive Spending Review. He told the Andrew Marr show: "People in this country know we were on the brink of bankruptcy and if we're going to have growth and jobs in the future, we have got to move this country into a place where people can invest with confidence." According to House of Lords' official records for 23 November, Myners asked how the Chancellor formed the opinion the country was on the brink of bankruptcy in the second quarter...
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