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Fiscal Responsibility Bill

My Lords, the noble Lord, Lord Lawson, says that it is essential not to delay. How does that relate to the fact, as the distinguished commentator Sir Samuel Brittan pointed out the other day, that we have a huge output gap—to use the traditional phraseology—of productive potential? Unless the noble Lord thinks that we can magically reduce the output gap, is there not prima facie evidence that fiscal policy should not be tightened too soon? I am speaking in line with the article by Sir Samuel Brittan. Does the noble Lord not agree with that?