Pre-Budget Report

Clearly, there is nothing like a financial crisis to bring the old dinosaurs out of their caves—and I know the right hon. Gentleman takes great pride in being a dinosaur. I say this to him, however: I do not think anyone cares tuppence whether he gives credence to what these City economists are saying. The important point, however, is that the people who will have to lend us the hundreds of billions of pounds that this Government want to borrow do take notice of them, and they make their judgments about where to lend, and where not to lend, on the basis of them.