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Fiscal Responsibility Bill

I share the view expressed by my noble friend Lord Lawson in that respect. Of course, a lot of it will have to do with how the markets behave. As the noble Lord will realise, it is very often the markets that put pressures on new Governments, just as the markets at the moment are putting pressure on the Club Med countries. That is a flexible position that any Chancellor needs to be aware of, and I am sure that the shadow Chancellor is even more aware of that than the noble Lord, Lord Peston.