Pre-Budget Report

The hon. Gentleman seems to have forgotten that the national debt doubled when John Major was in power, and that the Labour party brought it down. In the early 1990s, net borrowing was at 7.4 per cent., 7.7 per cent. and 6.2 per cent. Last year, under Labour, it was at 2.6 per cent., and the Library brief shows that net borrowing will not rise to anywhere near as high as it was under the Conservatives in the early '90s, so what is he complaining about?