Pre-Budget Report

I agree with my hon. Friend. Countries and organisations around the world, and many respected commentators in this country, have said that at a time like this, when the world is facing unprecedented pressure, and when we have seen a credit crunch the likes of which we have not seen for generations, it would be utterly irresponsible for Governments to stand back and say, ““Let the recession run its course.”” I am sorry, but the view that we should let the recession run its course is not one to which I can subscribe.