I say that the great service which this Government is called upon to perform at this Crisis of Human History is to prove that our social revolution can and shall work, and that they are not entitled to take risks by making sacrifices to serve ends which are problematical, speculative, not real, unjustified and beyond our powers.

Nobody doubts that we have reached a Crisis in Human History.

It is the bounden duty of hon. Members opposite - who have the majority - in a Crisis in Human History like this, and if we on this side cannot do it, to try to get answers about problems such as our relationship with N.A.T.O.

Far more help is needed if we are to find a decent, human response to the worst humanitarian Crisis in Human History.

In October 2008, that fine theory met its Waterloo when we discovered that you could have, according to the deputy governor of the Bank of England, "the largest financial Crisis in Human History", during a period of low inflation.

Do we not now know that it is possible to have what the Bank of England called, contrary to what the Minister said, the largest financial Crisis in Human History, which has occurred during a period of low inflation?

That final theory to which the Minister was still clinging on12 November had already met its Waterloo in October 2008 when we discovered, according to the deputy governor of the Bank of England, that, "the largest financial Crisis in Human History", could arise in a period of low inflation.