I do not mind staying off, because the record of the Conservative Party has meant that each time we have tried to save jobs Conservatives have voted against us. They voted against the saving of British Leyland and are always keen to attack any British company that contains any degree of public investment. They are week after week selling the British nation short.

When we saved British Leyland, we saved 250,000 jobs directly, and between British Leyland and Chrysler we saved 10,000 small businesses employing fewer than 200 workers. The Tories voted against our proposals.

These ripples would spread from British Leyland throughout the country. As a result of Tory policies, every job in West Yorkshire Foundries, a firm in my constituency, would be threatened. That firm was saved because the Labour Government saved British Leyland.