Pre-Budget Report

I appreciate my right hon. Friend's points on monetary policy, particularly if those people who have access to the best trackers also racked up the biggest credit card bills in good times and therefore pass the reduction down by paying the debts. In that instance, in uncertain times, monetary policy has a limited effect. With respect to fiscal policy and Government spending and actions, does my right hon. Friend agree that it is important that the levers that we pull work? For instance, social landlords should build social housing.