It is a pleasure to follow Mr Mak, who spoke about the fourth industrial revolution. We still have lessons to learn from the first.
This is the eighth Budget delivered by a Conservative Chancellor since 2010. Those of us who are old enough to remember will know that the first was rather cheekily called an emergency Budget. It said boldly that, by 2015, the deficit would be gone. Today, we heard that, by 2022, the deficit will be £19 billion. The Government have a record of failure. That target was set by the Government and they failed to meet it. They knew what the task ahead was, set a target and failed.