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Finance Bill

I cannot predict what reductions in public expenditure will be needed by the time we have an incoming Conservative Government, but one thing I do know is that the longer that is delayed, the more drastic the measures will have to be. That is why I think we should have had a general election now; then we would have had a Government with the courage to face up to the necessity to control public expenditure now rather than at some time in the future. The hon. Gentleman may think that I am ducking his question, but I am being quite open in saying that we have to start talking in public about reductions in public expenditure of that sort of order if we are to be able to match our deeds to the climate of austerity that may be required.