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The Economy

When the hon. Gentleman answers my question, perhaps he could start by also answering the question that my hon. Friend the Member for Chorley (Mr. Hoyle) asked about whether the hon. Gentleman supports a short-time subsidy, which I did not hear an answer to. How would the hon. Gentleman's loan guarantee scheme work? Does he insist that a national loan guarantee scheme would work if it had no money behind it, or does he say that it would have indeed money behind it? In which case, does he agree with the shadow Business Secretary, his right hon. and learned Friend the Member for Rushcliffe (Mr. Clarke), who says that if such a scheme was introduced, the taxpayer would take some kind of hit?