Pre-Budget Report

I am sure that my hon. Friend recalls that he and I went through the 1970s and, particularly, the 1980s and the 1990s, under the previous Conservative Government. Does he not remember what happened to the west midlands at that time, when manufacturing and a whole range of services were devastated? We inherited a debt, and people were paying 50p in the pound as a result of that Government's legacy. The Conservatives have now failed either to confirm their previous policies or to give us new ones.