Economic growth slows: effects on consumers

Economic growth slows: effects on consumers; ENGLAND: London: INT George Osborne MP (Chancellor of the Exchequer) interview SOT - Positive news that the economy continues to grow, that jobs are being created - half a million jobs in the private sector in the last year - and its positive news that our exports and investments are growing - my job is to get the policy mix right for the future and not to be driven by this week's number or next week's number, but to get the long term plan right and I think we have got the long term plan right - you can see over the last months what has happened in countries that have not got credible plans - Absolutely not for turning, if we were to abandon our deficit reduction now, most people in the rest of the world would look at us and think these people have gone completely mad - the recession and the very deep banking crisis caused this country to be poorer, there was a devaluation in our currency two or three years ago, that happened before I became a Chancellor but I've got to deal with the consequences of that and as a country we're all having to pay off the debts - Think a number of important principles were established (Eurozone deal) last week, first private sector is going to be involved in trying to reduce the burden of Greek debt and also the bailout fund that the eurozone created is now going to be used more flexibly - Think people look at Britain and they say, there is a government, Liberal Democrats and Conservatives working together, that have got Britain into a place where its a safe haven in the storm
Economic growth slows: effects on consumers; ENGLAND: London: INT George Osborne MP (Chancellor of the Exchequer) interview SOT - Positive news that the economy continues to grow, that jobs are being created - half a million jobs in the private sector in the last year - and its positive news that our exports and investments are growing - my job is to get the policy mix right for the future and not to be driven by this week's number or next week's number, but to get the long term plan right and I think we have got the long term plan right - you can see over the last months what has happened in countries that have not got credible plans - Absolutely not for turning, if we were to abandon our deficit reduction now, most people in the rest of the world would look at us and think these people have gone completely mad - the recession and the very deep banking crisis caused this country to be poorer, there was a devaluation in our currency two or three years ago, that happened before I became a Chancellor but I've got to deal with the consequences of that and as a country we're all having to pay off the debts - Think a number of important principles were established (Eurozone deal) last week, first private sector is going to be involved in trying to reduce the burden of Greek debt and also the bailout fund that the eurozone created is now going to be used more flexibly - Think people look at Britain and they say, there is a government, Liberal Democrats and Conservatives working together, that have got Britain into a place where its a safe haven in the storm
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Editorial #:
655159446
Collection:
ITN
Date created:
July 26, 2011
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Rights-ready
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Not released. More information
Clip length:
00:02:45:00
Location:
United Kingdom
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576 25i
Source:
ITN
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t26071118_0.mov