The Prime Minister in the UK thinks spending and borrowing more is the right thing to do in the circumstances, and is busily trying to bail out chunks of the private sector which would otherwise have to adjust more quickly to the painful reality that we have been living beyond our means.

The Conservative Party is a tax cutting party or it is nothing.

When teachers try to teach, nurses try to nurse, small businesses try to serve their clients and the police try to arrest criminals, there is always a regulator or three breathing down their necks. Conservatives want to make people's lives easier.

Living standards in both the public and private sector have to be brought down. The private sector has to sell more abroad and consume less at home. The government sector has to get closer to just spending what it can collect in taxes.

The Irish move to a very low corporation tax has generated very significant revenue growth, considerably in excess of Britain's, where a slower economy has been combined with a number of stealth taxes.

You have to be very rich to afford Labour, with 66 tax rises since they came in power.

There is not necessarily a good reason why a regulator should have to be involved in product design and marketing for rich and sophisticated investors. We recommend that such investors should be able to sign a piece of paper, which allows them to go ahead and buy unregulated products at their own risk.