I beg to move, That the Bill be now read a Second time.
When our party first came to office after the great crash, after the years of borrow and spend, our country was close to the abyss. We inherited then the greatest deficit in our peacetime history, a deficit of a magnitude that posed a real and present danger to every one of us, to every man, woman and child in our country and, indeed, to generations yet to come.
This was a deficit greater even than that created by another profligate Labour Government decades before that party reduced our country to scampering cap in hand to the International Monetary Fund for a bail-out, because they had brought us to the point of bankruptcy. It is the Conservative party that has once again—just as we did then—brought our country back from the brink and into better times.