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    Osborne urged not to bail out Ireland

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    Member News

    18th November 2010

    Conservative MPs have urged the government to not bail out Ireland as EU finance ministers debate a way forward for the country.

    On Wednesday chancellor George Osborne said the UK was "ready to support" Ireland in achieving a stable economy, if it asked for help.

    Speaking after a meeting of European finance ministers, Osborne had said it was in Britain's national interest that its neighbour had a successful economy and its banking system is stable.

    Commons leader Sir George Young was told by Tory MPs that UK taxpayers must not pay to bail out the Irish economy.

    During questions on future Commons business, Edward Leigh (Con, Gainsborough) called for an urgent debate for MPs to discuss any financial assistance the Irish Republic.

    The former public accounts committee chair said the British people needed assurance that at a time when "very painful cuts are being made here, that good money is not being thrown after bad in driving the Irish further into the sclerotic arms in the future".

    In response, Commons leader Sir George asserted that the chancellor would keep the House informed of any British involvement in the matter.

    Mark Reckless (Con, Rochester) repeated his calls to request a debate on offering financial assistance to Ireland.

    He told MPs: "Surely the message from this House to those (Irish) politicians must be that we will not vote a penny to bail out their Euro.

    "But the message to the Irish people must be we will give them whatever support is necessary to support an orderly return to sterling."

    Further to his urgent question debated on Wednesday, Peter Bone (Con, Wellingborough) said the governor of the Irish central bank has said a substantial loan will be required.

    Bone called for an emergency debate on the issue so the Commons can "express its concerns for both the Irish people" and its concern for further spending to the EU.

    Responding to the calls, Sir George said he would pass on MPs' requests for an emergency debate to Osborne.

    He said: "This country does have an interest in a stable and prosperous Ireland and we stand ready to do whatever we can to secure that objective."

    And Labour MP Gregg McClymont (Cumbernauld, Kilsyth and Kirkintilloch East) said the government had previously claimed Britain was in a similar economic situation to Ireland and asked why this was no longer claimed.

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