In the 1980s we did cut taxation and raise public expenditure. The right hon. Gentleman makes an absurd point. Under the Labour Government, borrowing averaged more than 6 per cent. of national product; since 1979, it has averaged not 6 per cent. but less than 2 per cent. Before the right hon. Gentleman starts to give lectures on borrowing, he should get his facts right. In one year under Labour, borrowing reached a crippling 9½ per cent.—the equivalent of £55 billion today. That was the Labour party's half decade of debt and now they plan another £37 billion worth of expenditure. Which would it be: £37 billion of extra taxes or £37 billion of extra expenditure?