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Economic Recovery

My hon. Friend is absolutely right to refer to the Treasury Committee’s work, and to the fact that its considered judgment supported the actions that we took. The powers that we took through the 2008 Act, and the actions that we took on Northern Rock and subsequently, were right. Politics is about judgment and government is about making decisions, and the Government’s judgment now is that it is right to support businesses and people through these difficult times. That is why we have taken action, for instance, on cutting VAT, putting an additional £1 billion each month into the pockets of shoppers and retailers; it is why we are spending £5 billion more on helping people get back to work; and why we are helping 300,000 people with their mortgages, helping them to stay in their homes. We have supported the car industry through the scrappage scheme, provided additional support for business generally and, as I said earlier, given 150,000 companies more time to pay their bills.