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Osborne Speech

Osborne Speech

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Published by TelegraphUK
The Chancellor delivers a speech at Sertec, Birmingham
The Chancellor delivers a speech at Sertec, Birmingham

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Published by: TelegraphUK on Jan 06, 2014
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05/13/2014

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Thank you inviting me to speak to you today here at Sertec.
I’m here because you’re a great manufacturing company, of the kind we need to see
many more of in this country. You make parts for British cars that are exported all around the world. When we hear on the news that our economy is recovering, people wonder what it means for them. For some it feels abstract, remote.
But here there’s nothing abstract about the 200 new employees this company has created
in the last year. Or the 400 additional people that Sertec has announced today it will be taking on in the next four years.
That’s a vote of confidence in the workforce here.
 
It’s a vote of confidence in the Midlands.
 
It’s also a vote of confidence in the economic plan that is working for Britain.
 This factory is a good place to talk about that plan. For you know more than most that the world does not owe Britain a living. Car manufacturing is fiercely competitive. Components can be sourced from around the world. You know that there are hundreds of companies in dozens of countries that would like to  be manufacturing the products you make here.
And it’s only because of your skill and your professional approach that the work comes
here
 – 
 here to this company. If the quality slipped, or the costs went up or the company was badly run
 – 
 then the jobs would go elsewhere. What is true of this company is true of our country.
It’s because the rest of the world sees that Britain is a country where we’re now back in control of our destiny, a country where we’re sup
 porting business, that jobs
 – 
 like the ones here today - are being created across our country.
 
Over one million new jobs. But if our country is badly run, if the finances are in a mess, and costs go up, and
 businesses don’t feel welcome, then jobs would qu
ickly disappear from Britain again. Our country was in a real mess a few years ago
 – 
 more so than almost any other major country in the world. Hundreds of thousands of people lost their jobs. Millions of families like yours have seen their incomes squeezed. Britain was made a lot poorer.
That’s the terrible price people totally unconnected with politics and politicians pay when
you get the wrong economic policy.
It’s why getting the right plan – 
 and holding to it
 – 
 is so important.
We’ve got the right pla
n now.
It’s a long term plan for turning our country around. I’ve never promised it was going to be easy.
I went out of my way to say the opposite
 – 
 and be open with you about the difficult sacrifices we had to make. And like the success of this compan
y, it’s been a team effort – 
 with a lot of hard work.  Now that team effort is paying off. The plan is working.
For the first time in a long time, there’s a real sense that Britain is on the rise.
 Jobs are being created. The deficit is coming down. That brings its own risks. As we start the New Year, I want to warn you about a dangerous new complacency around at the moment.
 
You hear some talking as if the hard part of the job is done
 – 
 and we can go back to the  bad old habits. But beware those who come along this year and promise you easy answers, no more sacrifices, just more spending on this and more spending on that, all paid for by more  borrowing. [political content removed] For the truth is there are still plenty of risks out there. Our biggest trading partner, the Eurozone, is still weak. And there are fears about slowing growth in the emerging economies further afield.
Here at home, the banking system is still not working as we need it to, so we’re still
fixing it. We have to do even more to encourage the exports and investment and saving our economy needs for a responsible recovery.
Above all, we’ve still got a huge amount to do to reduce the deficit and get our debts
falling.
And it’s worth remembering, as the festive season comes to an end, that o
ur own independent Office for Budget Responsibility, is predicting a slowing of quarterly GDP growth this year.
So it’s far too soon to say: job done.
 
It’s not even half done.
 
That’s why 2014 is the year of hard truths.
The year when Britain faces a choice. Do we say: "the worst is over; back we go to our bad habits of borrowing and spending and living beyond our means
 – 
 and let the next generation pay the bill"? Or do we say to ourselves: yes, because of our plan, things are getting better. But there is still a long way to go
 – 
 and there are big, underlying problems we have to fix in our economy. More repairs.

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