Pre-Budget Report

I will give way to a fellow Keynesian in just a moment. It is also important that the Government do more, which is why I extended the small firms loan guarantee scheme, which will provide another £1 billion for small and medium-sized businesses—it was opposed by the Conservatives. Our current credit guarantee scheme underwrites lending, and I am surprised that the shadow Chancellor should now try to adopt a policy he opposed as one of his own. We are taking steps to help small businesses and we will continue to do so.