The Chancellor, as you heard a short while ago, has achieved an exemplary record as steward of the economy of the United Kingdom and, indeed, is without peer among the world’s economic policy makers. Gordon, I would like to thank you in particular for your leadership of the Group of Seven this past year.
It works, no doubt, but it also has side effects – and some of the unconventional measures have stronger side effects than others. And while the intended benefits of these measures wear off over time, the side effects and risks increase. That’s why it’s important to stop taking the medicine as soon as possible, but not too early either.