I am always intrigued at the line that the Conservatives take on this. If they want to restrict personal debt, there are two ways of doing so: one is to ensure that loans are priced at such a level that people cannot get them, and the other is rationing. I know that the Conservative party is much more interventionist now than it was just a few weeks ago, but that strikes me as odd. There are two other points to bear in mind. Yes, people did borrow more, not only because rates were lower but because their assets had increased in value. The central point is surely this: do we not need to ensure that whatever lending takes place is sensible, prudent and sustainable from both the borrowers' and the lenders' point of view?