We seem to be living in two parallel universes. What the Opposition do not seem to realise is that we were facing bankruptcy as a country. We were in economic meltdown, and the markets were judging us by raising the cost of our borrowing. That is the best judgment of all: the markets know best when it comes to judging what is going on.
We have heard a great deal from the Opposition about a banking crisis. Of course there was a banking crisis—there was a worldwide banking crisis, we all know that—but the real problem with the way in which the Opposition were managing our economy was something called a structural deficit. We were spending much more on running UK plc than we were bringing in.