Any Government is entitled to take that bisque, of course. It is very easy to multiply the seasonal third quarter by four and then use this as an annual rate. That is typical of the whole attitude of the Prime Minister to these matters.
Another interesting thing which the Prime Minister said was that he was not to be criticised for exaggerating or demonstrating this figure, because the figure was known to all overseas observers already. But there are two things which flow from this. First, of all, if he intended to use that figure, he should have explained the context and the make-up to the people of the country and, secondly, if all the overesas bankers and others knew the figures already, is it not plain that they had complete confidence in my right hon. Friend the Member for Barnet (Mr. Maudling)—[HON. MEMBERS: "Oh."]—because, the facts being known, the crisis of confidence came under the Prime Minister and his Government and not under the previous Government.
I want to examine in detail the policy of the Government in dealing with this situation—