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Northern Rock

I remember the nationalisation of Rolls Royce; I was not here at the time, although I am pretty sure that my right hon. Friend was. I did indeed notice the remarks in The Daily Telegraph, although I must concede that it took me some time to get to the bit that said I was doing the right thing—it was a pleasure to read it. The problem for the Tories is that they do not actually have any coherent idea of what to do in this situation. Their position changes from day to day, and from week to week. Therefore, all that we see is cynical opportunism, because they have nothing else to offer.