It would be better to get inflation down by expanding supply, rather than hitting mortgage holders again to get them to spend less. Can we have an urgent statement, before the summer recess, from the Government on measures to expand our domestic output of food, oil and gas, and industrial products with suitable incentives and facilitations?
I thank my right hon. Friend for that very helpful suggestion. He will know that, as Treasury questions are not until after the summer recess, he will have no opportunity to raise it there, so I will make sure that the Chancellor has heard his suggestion. I know that that will be welcomed by many Members across the House.