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Finance Bill

Very well, but I remind the House what the Conservative shadow Chancellor was saying in 2001. The essential question is whether we saved enough money when the economy was growing to afford a recession of the current magnitude. The hon. Gentleman always talks about fixing the roof when the sun shines, and it is a crucial point. The economy was growing very strongly in 2001, and one would have thought that the Conservative shadow Chancellor of the day urged the Government to save more money. Instead, he said:""Analysts believe the Chancellor has about £5 billion more than he thought. It is perfectly possible to cut the fuel tax this year without any impact on Government spending or public services. Everyone knows that Gordon Brown has a war chest."" That was the Conservatives' position in 2001. Essentially, they were telling the Government to do the precise opposite of fixing the roof while the sun was shining.