Mr. Tim Vaughan:

As I have said already, it is to report the news and events truthfully and accurately. It is to provide context and analysis for the news and events as they happen and to open its columns to contrary and diverse opinion. It has to be accurate. It is important to state that there is a difference between informed speculation and fact. Many of the commentators over the years were giving informed opinions of the state of play at various stages. Mr. David McWilliams was giving very informed opinion on his views of the way the economy would go from 2001. That did not become a fact until after the crash. Dr. Mercille spoke about the need for the truth and the need for facts. I think he was long on opinion and short on facts. He spoke of his regard for The Guardian. He might well have remembered its great editor, C.P. Scott, who said opinion is free and facts are sacred. We have to deal with the facts.