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Finance (No. 2) Bill

The hon. Gentleman makes the fair point that there is too much cigarette smuggling, and this is a matter that we are keen to address. My right hon. Friend the Chief Secretary to the Treasury has already announced proposals to provide additional funding to Her Majesty's Revenue and Customs for tackling cigarette smuggling, among other things. I very much welcome the hon. Gentleman's intervention but, let us be honest, it would be unrealistic to say that we could prevent all cigarette smuggling. We can, however, take steps to reduce it. That would be to the benefit of the Exchequer, and I am pleased that the Government are moving ahead and doing that. It is our determined actions that have restored confidence in the economy, stabilised the nation's credit rating and halved interest rates on Government short-term borrowing. We are saving money today so that we can invest in tomorrow. Ours is the right approach for the country, and that has been widely recognised. Only a fortnight ago, the International Monetary Fund said that our deficit plan was essential to restoring confidence in the UK's public finances and ““supports a balanced recovery””. That is the approach that we will take forward, including in the spending review.