Fiscal Responsibility Bill

As my hon. Friend will be aware, we already have significant public investment plans for 2010-11, which we are not changing. We have a significant capital investment programme and we have announced initiatives such as the continuation of the enterprise finance guarantee to provide support to small and medium-sized businesses, and the extension of the time to pay arrangements to help businesses and stimulate growth. What we do not want to do is jeopardise the recovery that I believe is taking place in this country by taking precipitate action that would tip the economy back into recession; that is a real risk with the policies of Opposition parties. The judgment that we have made to focus our attention on a more rapid tightening in 2011-12, when we confidently expect the economy to be strengthening, is the right one.