Deficits must be cut, yes, but the rush to austerity risks undermining the fragile global recovery.
Our goal is to make finance the servant, not the master, of the real economy.
The question is not whether Scotland can survive as a separate state. Of course it could.
We can't be in the business of carting fresh air around the country.
On top of that, we have a healthy and stable economy and an end to the boom and bust that characterised the Tory years.
The economic times we are facing... are arguably the worst they've been in 60 years. And I think it's going to be more profound and long-lasting than people thought.
The key thing that went wrong was that a culture was allowed to develop where the relationship between what people did and what they got went way out of alignment, especially at the top end.
We were at the stage where in a very short period of time, one of the world's biggest banks would have to shut the door and switch off the electricity.
The global economy is spluttering back into life. The Tories would have left it to choke to death.
Tory plans to cut 'further and faster' would wreck recovery and roll back Labour's many successes.
As I said, there are two approaches-first, a strong economy, stability and helping families or, secondly, the Tory cuts, the undermining of stability, and a return to the boom and bust of the 1990s.
