Llywydd, Huw Irranca-Davies makes a really important point. We have already had a decade of a flawed and failed experiment of austerity in the United Kingdom, which has left us all worse off than we otherwise would have been. And the facts simply speak for themselves, Llywydd. Between 2010 and 2021, every one of those years a year of Conservative Government at Westminster, gross domestic product per head in the United Kingdom grew by only 6 per cent in real terms. It grew by 11 per cent in Germany, it grew by 17 per cent in the United States of America. In 2010, disposable household income per head in the United Kingdom was 90 per cent of the German figure. By 2021, it had fallen to 81 per cent. The New Economics Foundation estimate that the direct impact of austerity is to make the UK economy £100 billion smaller than it otherwise would have been. Who ever would think of repeating the same experiment? It wasn't attempted elsewhere in the world. They had a different approach, they had an investment approach, they had a Keynesian approach, and they came out of the dilemmas of 2008 in a far stronger way.

We see the same pattern already repeating itself. Last week, inflation in the United States fell below 8 per cent. The Bank of France announced last week that the French economy will escape recession in the fourth quarter of this year. The German economy grew by 0.3 per cent in the third quarter of this year. Every single one of those things is not true of the United Kingdom under the stewardship of the Conservative party.

I don't often, Llywydd, quote The Daily Telegraph in answering questions here, but, if you had looked at The Daily Telegraph yesterday, you would have seen a very serious article that argues that tax rises and public spending cuts at this point in the economic cycle are exactly the wrong prescription for the UK economy. Here is an economy already in recession, according to the Bank of England, and now to have purchasing power drained out of it at an ever-accelerating rate, mortgage rates rises by the Bank of England, and money taken out of people's pockets by the UK Government as well. This will guarantee, it seems to me, that the recession that we are facing already will be longer, it will be deeper and, once again, it is those communities and those organisations that can the very least afford it who will be on the front line of another dose of Tory austerity.