Pre-Budget Report

I do not think that Maastricht has that much to do with it, although I know that Maastricht has something to do with just about everything that the hon. Gentleman ever raises. What I find puzzling is why, against the background that I have set out and the determination of countries across the world to take action, the Conservative party should take the position that was set out today by the shadow Chancellor. On 15 July, the Leader of the Opposition said:"““what the government ought to be doing is actually cutting taxes…giving a fiscal stimulus to the economy,””" Yet, only a few months later, he has changed his mind. Indeed, the chairman of the CBI said on Monday that"““this fiscal stimulus is going to cost the Government less than doing nothing because of the impact on unemployment””." Perhaps the Conservatives should remember what happened in the 1980s and 1990s.