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Fiscal Responsibility Bill

I cannot remember whether the hon. Gentleman was here for the Chancellor's opening speech, but he dealt with that point quite closely—[Interruption.] I will repeat it if the hon. Gentleman wants me to. If there were an unprecedented situation, the matter could be looked at again, but we are setting out a plan for a reduction in the deficit and further targets to reduce the deficit in each year. The plans contribute to ensuring sustainable public finances in the medium term, and I do not think that placing them on the statute book is a distraction. Legislation provides certainty and stability, and we are giving Parliament a new role in both setting and monitoring the Government's fiscal plans. In particular, Parliament must approve fiscal plans before they become law, which is a significant evolution of the extent to which the Government are held to account for their medium-term fiscal policy.