Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 12:00 am on 6th February 1992.

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Photo of Mr John Major Mr John Major , Huntingdon 12:00 am, 6th February 1992

Every one of the right hon. Gentleman's policies would lead to a continuing recession, and that is well known. The right hon. Gentleman ignores the fact that I head a Government who have cut interest rates seven times in the past 12 months, halved inflation in a year and built up the best industrial relations in half a century. The reality, I fear, is that the right hon. Gentleman does not understand the economy or how it works. The right conditions for economic growth are low taxes, the right hon. Gentleman wants high taxes; low inflation, the right hon. Gentleman would engender high inflation; and good labour relations, the right hon. Gentleman would reintroduce the old, bad trade union practices. Everything that the right hon. Gentleman proposes would lead to the perpetual recession of which I spoke on Tuesday.