The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

1993Prime Minister (1990-1997)

Mr Major’s Comments on Borrowing – 10 December 1993

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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.