The right hon. Gentleman would be well advised to examine more carefully the litany that he recites. We have set an inflation target, which we shall meet, and which the right hon. Gentleman could only dream about. The average level of inflation under the last Lib-Lab Government was more than 15 per cent.—no wonder the shadow Chancellor dare not set an inflation target and tell the country what it is. He promises taxes, but he does not say who will pay them. He cannot tell us whether he would set an inflation target or what it would be. The right hon. Gentleman obviously has not seen today's annual economic report from the European Commission, which argues that we will meet our inflation target.