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AMENDMENT OF THE LAW

I understand the hon. Gentleman’s point, but PFI schemes have always been off balance sheet. That was their great strength and benefit—an element we took from the German economy—and it was welcomed for many years. Now, all of a sudden, PFI schemes are not welcome—certainly not on the Opposition Benches, as Conservative Members like to throw at us the allegation that Northern Rock is a £100 billion off-balance-sheet contingency. If we look at it in the round, however, it is in the best interests of the nation. That is why we have PFI, and the type of public investment that gets me my Middlesbrough hospital. The hon. Member for Dundee, East also mentioned corporation tax rates. It seems a long time since I listened to the Chancellor, but I believe I heard him say that the major corporation tax rate was being reduced.