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Government Capital Expenditure

Part of Opposition Day — [3rd Allotted Day] – in the House of Commons at 5:30 pm on 2nd February 2009.

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Photo of Christopher Huhne Christopher Huhne Shadow Home Secretary 5:30 pm, 2nd February 2009

I am certainly not keen to be shadow economic spokesman; I cannot imagine anybody doing the job better than my hon. Friend Dr. Cable.

Let me make a point to the hon. Gentleman about the reserve currency issue and see whether he has a response. In fact, economic history tells us the exact opposite of the point that he has just made. Reserve currencies are, in fact, most vulnerable to crises. The great sterling crises in our economic history happened precisely because we were unwinding our reserve currency role. The hon. Gentleman's point is exactly, 180°, wrong.

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