“I like New York. There are similarities with London that make it feel rather like home, but at the same time it's slightly fictional.”

“What I'm not saying is that all government spending is bad. It's not - far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy. Father Christmas does not work on the Treasury staff this year. You can never bail someone out of trouble wi”