Member

First, I turn to the inheritance. Before the election, I said that we would face the worst inheritance since the Second World War: taxes at a 70-year high, debt through the roof, and an economy only just coming out of recession. I knew all of those things, and during the campaign, I was honest about them and about the difficult choices that they meant. The British people knew them too. That is why they voted for change. But upon my arrival at the Treasury three weeks ago, it became clear that there were things that I did not know. There were things that the Conservative Party covered up—covered up from the Opposition, from this House and from the country. That is why today we are publishing a detailed audit of the real spending situation, a copy of which will be laid in the House of Commons Library. I take this opportunity to thank the Chief Secretary to the Treasury, my right honourable friend the Member for Bristol North West (Darren Jones), for his leadership, and Treasury officials for all their work in producing this document.