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The Economy

On the hon. Gentleman’s £50 billion loan scheme, would it count as Government expenditure? If it would, it would add massively to borrowing, and he has to accept that. Who would administer this scheme by which he is so mesmerised? At one point, the Tories suggested a new Government quango, but without much conviction. Most importantly, would he seek any security for loans made under this phantom scheme that he has invented and thrown up for general discussion without a single convincing element to lend it credibility? Would he require security, or would it be a question of everybody having what they want?