-Commander KENWORTHY asked the Prime Minister whether consideration has now been given to the desirability of a moratorium in warship building in connection with the European Financial Crisis, including the construction 1668 of artillery, tanks, and other warlike equipment?

The right hon. Gentleman now invites the pity and sympathy of this House because, he says, the European Financial Crisis has prevented him so far from carrying through the great conversion scheme which he had prepared.

That, of course, is because the European Financial Crisis is real.