Jonathan Reynolds

That is not what it says. First, on the figures, we cannot make a like-for-like comparison because we know that the information provided by the previous Government in their financial information was erroneous. They did not square their own spending pledges with what was in those documents. The analysis by the OBR shows that long-term improvement in GDP growth is vital, but the right hon. Gentleman will recognise that it cannot model some of the wider parts of the Government’s agenda. It cannot model those changes in the planning system that are so important to the Government. It cannot model the changes involved in having a long-term industrial strategy. It cannot model our changes to trade policy. I recognise that there is more to do to prove the case of the Government’s overall commitment, but I can tell the right hon. Gentleman that fundamentally fixing the foundations, honesty and stability in the public finances, and a focus on long-term public investment are essential to the long-term growth of the country. Also, one thing that has not had sufficient recognition is that many of the real benefits of greater public investment do not accrue in this Parliament; they accrue beyond it, and it is about time we had some long-term focus again in this country. Not before time, if I may say so.