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I am sorry I missed that one, so I am grateful to my hon. Friend for highlighting it. Let me match that quotation from one Liberal sage to conclude with a quotation from another Liberal sage—the Liberal sage, Lord Keynes—who wrote in 1942:
"Organized public works, at home and abroad, may be the right cure for a chronic tendency to a deficiency of effective demand. But they are not capable of sufficiently rapid organisation (and above all cannot be reversed or undone at a later date), to be the most serviceable instrument for the prevention of the trade cycle."
That is the problem with the proposals from the Liberal Democrats, and that is why we will not support them, despite the fact that there is much merit in the motion.
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