Latest Public Sector News

09.09.13

Economy ‘turning a corner’ – Osborne

The Government’s plan for the economy is working, Chancellor George Osborne will insist in a speech today.

Recent positive reports on the economy have “ended questions” about his economic policy, he will say. The UK economy grew by 0.7% in the second quarter of the year, and the OECD increased its growth forecast to 1.5% from an earlier estimate of 0.8%.

Osborne is expected to say: “The economic collapse was even worse than we thought. Repairing it will take even longer than we hoped. But we held our nerve when many told us to abandon our plan. And as a result, thanks to the efforts and sacrifices of the British people, Britain is turning a corner.

“Of course, many risks remain. These are still the early stages of recovery. But we mustn't go back to square one. We mustn't lose what the British people have achieved.

“This is a hard, difficult road we have been following. But it is the only way to deliver a sustained, lasting improvement in the living standards of the British people.

“Those in favour of a Plan B have lost the argument.”

Shadow Treasury minister Chris Leslie said: “Three wasted years of flatlining under George Osborne have left ordinary families worse off and caused long-term damage to our economy.

“This desperate attempt to rewrite history will not wash when on every test he set himself, this chancellor's plan A has badly failed – on living standards, growth and the deficit.”

Tell us what you think – have your say below, or email us directly at opinion@publicsectorexecutive.com

Image c. M. Holland

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