To ask the Chancellor of the Exchequer what has been the change in the number of persons owning shares in the past five years.

The number of adults in Great Britain owning shares has increased from about 8· million in 1987 to almost 10 million in 1992.

Does my right hon. and learned Friend agree that that transformation to share and home ownership under successive Conservative Governments has put us well on course to becoming a property and share-owning democracy?

Yes. This major extension in popular capitalism has been one of our greatest achievements.

Did the Chief Secretary note that share and bond prices fell sharply following the presentation of the Budget? Has he also noted that the market is off a further 25 points this morning? Does not that first opinion poll suggest the thumbs down for the Budget?

I think that the hon. Gentleman will find that all that is troubling the stock market is the thought of a Labour Government—a fear which we shall be in a position to put out of their heads quite quickly.