Of course, decisions on quantitative easing are for the Bank of England, which is independent. The last time I looked, I think the initial response to the global financial crisis was approximately £75 billion, and there has been about a twelvefold increase in QE since then, so I understand my hon. Friend’s underlying point. Ultimately, what my right hon. Friend the Chancellor has been focused on is the plan for jobs and supporting the economic recovery. We can see from the output data that the economy grew by 2.3% in April, as I said earlier, and GDP data has come out of the Office for Budget Responsibility forecast.
However, as my hon. Friend, who takes a deep interest in the matter, well knows, the picture remains challenging. There were 1.9%—or half a million—fewer employees in May than in February 2020, and 3.4 million people are still on furlough. It is a challenging picture, but I think that the plan for jobs is working, and the data suggests that.