I did meet Mickey Mouse in California, and he seems to be writing the Labour party's economic policy at the moment.

We support the auto-enrolment but we have our doubts about the way the National Pension Scheme is going to be structured.

There is a big problem. The problem is the country borrowed too much. We went on a borrowing binge, there was a housing boom. You want to help people de-leverage and deal with those debts over time.

Just as it wouldn't be right to only to have an economic dialogue with China, equally you shouldn't restrict your dialogue solely to issues around, say, human rights. You can raise all those issues, and that is what reflects a mature discussion. So I don't think essentially we have to choose between being partners in China's economic development and being proud defenders of British values.

China is absolutely one of the biggest players in the world and if Britain wants to be connected to the world it has to be connected to China.

You need to have a state pension that doesn't drag more and more people into means-testing each year and make it very difficult for people on low to medium term incomes to save and not see their savings clawed away.

Even a China growing at 7% or indeed less is still adding to the world economy an economy equivalent to the UK or more.