Productive capacity

How does trade impact this? The important question is not simply how much governments borrow or spend, but what it gets for the money.

productive capacity.

We'll be talking about that.

Credibility comes from arithmetic, not persuasion.

And the ultimate constraint is real resources, not money.

And a quote I think you sent over to me, Ben, if I may share it, which is that the problem isn't creating another pound, it's creating another thing worth buying with it.

So it's this productive capacity point.

Does that sound like a fair summary of what we need to cover?