Granted that the MRCA, Sea Wolf and the through-deck cruiser are maturing, there is a Public Expenditure Crisis in the Defence Department alone.
They have heightened unreality, disguised inflation and left us late in the day to face disastrous rates of inflation together with a Public Expenditure Crisis.
First, I suspect that any integrated Socialist approach would be infinitely costly at a time of something approaching a Public Expenditure Crisis.
In the Present Public Expenditure Crisis it is desperately serious.
I have already referred to the Public Expenditure Crisis and the soaring increases which have fallen on the ratepayer -domestic and perhaps particularly commercial.
At this time in the history of our country, with a Public Expenditure Crisis, we in Northern Ireland find it very difficult to keep our priorities on a basis that makes us feel confident, simply because at this point there seems to be no long-term overall strategy for the social and economic development of Northern Ireland.
It can hardly be claimed that freight subsidies can be justified at a time of almost unprecedented Crisis in Public Expenditure.
That is a significant improvement in a time of Public Expenditure Crisis.
At that time I believed that there was a Public Expenditure Crisis.
It is certain that at the time of the next Budget the Chancellor of the Exchequer, whether Labour or Conservative, will face a Crisis in Public Expenditure and will be looking for major cuts.
The difficulties that we are experiencing - the Crisis of Public Expenditure in the NATO countries, the inadequacy of existing deployments, the intransigence of the Russians, the gap in our understanding between Europe and America, the instabilities in the Gulf and in Central America - should impel the NATO leaders to rethink their common security interests and how they can organise to meet them.
We can see it coming: next year's Public Expenditure Crisis will be about family credit, just as this year's - allegedly, at least - is about housing benefit.
We face a Public Expenditure Crisis in this country; the Government have overspent, and they are borrowing too much, taxing too much and spending too much money on purposes with which the public do not agree.
The danger is that Governments of any party will resort to the traditional reflex action when faced with a Public Expenditure Crisis.
We are facing the Worst Public Expenditure Crisis since the 1930s.