Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 14th April 1994.

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Photo of Kenneth Clarke Kenneth Clarke The Chancellor of the Exchequer 12:00 am, 14th April 1994

That bizarre use of the minutes explains why in the past people have been so cautious about openness in these matters. As the hon. Gentleman well knows, that is a total misuse of all the accounts of the discussions that he has read. I have always spoken cautiously about the recovery. I have always stressed the need for it to be sustained. I have also always stressed the need to keep low inflation as a target. All the hon. Gentleman has ever said is, "Cut interest rates", "Cut interest rates" and "Cut interest rates." At times of boom and at times of recession, he would have caused recurrent financial crisis. He says nothing on tax, he says nothing on borrowing and he says nothing on supply-side measures. The possibility of the hon. Gentleman's taking responsibility in these matters would cause a serious crisis of confidence in the country and set back all the hopes of recovery that we are nurturing.