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Spring European Council

I am grateful to the hon. Gentleman for his comments. When the private sector fails, and when banks fail and falter, it is the Government's duty to step in. If we are to have the level of economic activity in the economy that we want, there needs to be monetary activism, as the hon. Gentleman proposed, and also fiscal activism. I cannot see how the Conservative party can continue to resist the idea that we should have, as we are having, a fiscal stimulus in the economy. The CBI supported our fiscal stimulus and wanted it to happen in November when we announced it. It has supported the measures we have taken.