My right hon. Friend said that, between 1979 and 1997, the average mortgage rate was about 11 per cent. That figure is important. The rates have come down considerably, which will help and benefit families. We shall reap that benefit at election time.
Inflation is down.
It is important that the Chancellor set the figure for next year at about 2.5 per cent. If the inflation rate is too low, the danger is that interest rates may be affected. I especially want to refer to the Chancellor's important announcements about the regions and about help for the older industrial areas in the cities. The measures on tax and the help for regeneration are most welcome. I welcome the greater flexibility in the powers of regional development agencies.