I doubt whether there is an hon. Gentleman opposite even who, even before this latest action of the Government, in his private thoughts and private conversation, was not fearing a Further Economic Crisis, not excluding the possibility of devaluation, in 1957.

Yet three years later, we found that, far from prosperity having been brought to these islands, we had a Further Economic Crisis and a total failure of those policies.

This could translate into a downside risk of between 7% and 15%, according to HSBC, adding a new dimension to risk assessment for both corporate strategy and anyone looking to avoid Further Economic Crisis.