We are pretty tough in saying for example if you've got unsecured debts and less than £25,000 that should not be an excuse for repossessing someone's home.That should not be allowed.You have got to help manage people through this process. I don't want to pretend that it is going to be easy getting out of Gordon Brown's hole.

For example at the moment there is a compulsory requirement to buy an annuity. That is something we would get rid of. It puts some people off saving.

I am actually quite encouraged and I think, actually, the UK is coping with globalisation a lot better than most other European countries. And that is reflected in the fact that (whilst of course there are people who are still unemployed) our unemployment rate is low and (whilst of course we need to export more) we are attracting a huge amount of inward investment into Britain.

I see no real argument in Britain that is concerned that an Indian company owns our most successful car manufacturer or that the sewer system under London is being renewed in part by Chinese investment. There are the odd voices that express concern but they are very marginal and they are not being listened to by the British people.

No other chancellor in the long history of the office has felt the need to pass a law in order to convince people he has the political will to implement his own Budget.

I think essentially if you look at British public debate around the issues of our interconnectedness with the global economy you do not find a ready audience, of any large scale, for pulling up the shutters.

I get a lot of letters from people.