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Legislative Programme and Budget Statement (Wales)

It could do. I do not know because I am not an economist. Lots of people are saying that such an approach will lead to a double-dip recession, but I do not think many of them are qualified to say that. Winston Churchill once said that if two economists are put in a room and asked a question, you will get three different opinions. The answer is that I do not know. Some people have said that that will be the case, but many people have said that if Britain loses its triple A rated status, we are almost certain to go into a recession because we will not be able to borrow any money. Everyone talks about the deficit in terms of GDP. Again, I am not an economist; I like to understand things in a simple way. If our tax revenue is £520 billion a year but our spending is £670 billion a year, that is a phenomenal hole that we have to fill. I am certain that if we do not take action to stem the deficit, we will almost certainly have the double-dip recession about which the hon. Gentleman is concerned.