The hon. Gentleman is describing the evolution of our policy over a period that has seen a dramatic worsening of the economic outlook, not only in this country but more broadly. The great Liberal, Lord Keynes, pointed out that, when circumstances changed, he changed his mind. Sadly, that does not...

The hon. Gentleman is describing the evolution of our policy over a period that has seen a dramatic worsening of the economic outlook, not only in this country but more broadly. The great Liberal, Lord Keynes, pointed out that, when circumstances changed, he changed his mind. Sadly, that does not...

Is my hon. Friend as astonished as I am at the surprise that Conservative and Labour Members are showing towards the principle that he is proposing, given that that principle is put into practice by the most fiscally conservative Government in Europe, namely the German Government, who call it the...

Is my hon. Friend as astonished as I am at the surprise that Conservative and Labour Members are showing towards the principle that he is proposing, given that that principle is put into practice by the most fiscally conservative Government in Europe, namely the German Government, who call it the...

Will the hon. Gentleman give way on that point?

Will the hon. Gentleman give way on that point?

I am certainly not keen to be shadow economic spokesman; I cannot imagine anybody doing the job better than my hon. Friend the Member for Twickenham (Dr. Cable). Let me make a point to the hon. Gentleman about the reserve currency issue and see whether he has a response. In...

I am certainly not keen to be shadow economic spokesman; I cannot imagine anybody doing the job better than my hon. Friend the Member for Twickenham (Dr. Cable). Let me make a point to the hon. Gentleman about the reserve currency issue and see whether he has a response. In...

I am grateful to the hon. Gentleman for giving way again. His case on the detail of the UK public finances is there, and we can examine the record. However, I am intrigued. Clearly, the United States is the most important global economy, but it has a higher level of...

I am grateful to the hon. Gentleman for giving way again. His case on the detail of the UK public finances is there, and we can examine the record. However, I am intrigued. Clearly, the United States is the most important global economy, but it has a higher level of...

I am very supportive of the fiscal stimulus, but one issue greatly concerns me—the slimness of the evidence of whether anything is actually happening on the ground. Let me provide the example of two projects in my own constituency, both of which are Barratt developments that have now been mothballed....

I am very supportive of the fiscal stimulus, but one issue greatly concerns me—the slimness of the evidence of whether anything is actually happening on the ground. Let me provide the example of two projects in my own constituency, both of which are Barratt developments that have now been mothballed....

Given the case the Minister is making, is he as concerned as I am that the net worth of the UK public sector—not just the debt position, but that taken together with the asset position—is very much lower today than it has been historically, and that that deterioration has taken...

Given the case the Minister is making, is he as concerned as I am that the net worth of the UK public sector—not just the debt position, but that taken together with the asset position—is very much lower today than it has been historically, and that that deterioration has taken...