Treasury and Work and Pensions

I first wish to focus on the second paragraph of the Queen’s Speech, which is about economic stability, and then on two of the big long-term issues that have been presaged by Sir Nick Stern’s report on climate change and by the Turner report on pensions, both of which have given rise to two important Bills and, indeed, to long-term policy. When I made this speech last year, I started by congratulating the Conservative spokesman on having acceded to his new post. I note that he is receiving at least some good advice, because I see that quite a few of my policies and speeches appear in his after a short time lag. Most recently, my 10-point plan on debt reappeared as the Conservatives’ six-point plan on debt. I had been puzzled as to what was wrong with the other four points until I worked out that they all related to problems concerning mortgages and repossessions, which may be an area of policy over which the Conservatives wish to draw a veil. My main point of difference with the shadow Chancellor at the moment relates to my lack of a sense of humour. I fail to appreciate what is hilarious about the Conservative website describing people who have got into debt as ““feckless tossers””. I thought perhaps that, with my advancing years, the problem was that I had lost my schoolboy sense of humour. However, having tried the words out on various age cohorts including schoolboys, I realise that they do not see what is funny about them either. As far as the Chancellor is concerned, I realise that the boxing metaphor is getting a little bit worn. He may recall in a way that is perhaps not terribly helpful to him that, before Lennox Lewis came along, British heavyweight boxers were notoriously ineffective. Indeed, they eventually earned the nickname of ““horizontal heavyweights””. That is how they tended to appear on the canvas. However, after an hour of Punch and Judy politics, the Chancellor has shown a certain talent for that. Indeed, beating up Judy is something that he is a master of, but we now need to move on to a slightly more serious level. I apologise if I move into that vein. I first wish to focus on the issue of economic stability. The obvious points are stark.