Pre-Budget Report

I think that if anyone is running policy for electoral advantage, it is to the Chief Secretary that the hon. Gentleman should address himself. The hon. Gentleman is, of course, right about debt. The issue here is the size of the deficit, and the speed with which we are increasing our debt. Ultimately, all of us in this place can talk as much as we like about the debt and the deficit, but what matters is what the people who must finance that deficit, and must continue to finance that debt, believe about the situation and whether we are moving fast enough to deal with it.