Sean Barrett (Independent)

I withdraw the amendment, on that basis. The only other thought that occurred to me was that this is rather like the conditions that are stipulated by Brussels today for other countries. People who borrow in the future will face much greater surveillance. I would put strict controls on the capital side and be draconian, not allowing borrowing on the current expenditure side. However, I appreciate the points made by the Minister of State.

We are moving towards an era where, to escape from bond markets, people within public finances are becoming almost Victorian, balancing books so they do not have to engage in borrowing.