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The Economy

The hon. Gentleman is right to point out the concerns that have been raised by a series of different major investors about the fact that companies need to invest for their future and for all of our futures and about the pressure that has been put on them by the global credit crunch. I am certainly happy to take the hon. Gentleman’s comments as a Budget representation and to pass them on to other Ministers in the Treasury. In the 1930s, Governments and central banks across the world fundamentally failed to rise to the economic policy challenges of their day. The consequences for economic prosperity and political stability were devastating. That is why we and other Governments are so determined that we will act together this time, with co-ordinated action to safeguard the banking system, boost our economy, tackle tax havens and tackle international regulation, too.