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Spring European Council

The right hon. Gentleman wants us to spend money on insulating homes, and we are doing that. He wants us to spend money on investing in schools, and we are investing more than in any previous year. He wants us to invest money in hospitals, and we are doing more than we have done. I thought that he would support the £44 billion of public investment that is being put into the economy, instead of failing to support it today. As far as tax havens are concerned, in every Budget since 1997 we have tried to crack down on the use of tax havens. We have taken action that, since 2005, has secured £14 billion of funds that would otherwise have been lost in tax avoidance. We know that we have to get a global agreement, however, and that is why we are pressing other countries to sign up to the international standards that are necessary. That means that Switzerland, Liechtenstein, Hong Kong and Singapore—areas that have been regarded as tax havens in the past—have got to come within the net. [Interruption.] And, yes, other parts of the world have got to come in, and I hope that the Opposition will join us in demanding that. As far as the low-carbon recovery is concerned, the right hon. Gentleman should know that we are investing, and ready to invest, as I announced today, in major projects of energy infrastructure—[Interruption.] ...As I was saying, the right hon. Member for Sheffield, Hallam (Mr. Clegg) can be sure that we are investing in low-carbon projects, and that we want to continue to do so. On the fiscal stimulus, I am not surprised that he is opposing it now. The reason for that is that he is committed to £20 billion of public spending cuts.