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Bright light Britain will keep a 'cool' head amid global economic panic - Osborne

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Bright light Britain will keep a 'cool' head amid global economic panic says Osborne


Chancellor calls on business leaders to ensure Britain's economic prosperity as he hails the economy as the sole bright light in a gloomy world

The Telegraph
By James Quin
22 January 2016

George Osborne reaffirmed his backing for business as he said the UK is a "chink of light cutting through the global gloom".

The Chancellor told a group of Briain's biggest bosses that his door is "always open" to them and called on the business community's support to ensure continued economic growth.

Speaking to a room of 100 or so chief executives and chairmen at the World Economic Forum at Davos, including WPP chief Sir Martin Sorrell and HSBC chief Stuart Gulliver, Mr Osborne said he was thankful for their support.

Referencing the last time he spoke at the same lunch four years ago, he described how some at the time were calling on him to implement an economic 'Plan B.'

"But you – the British business community – never wavered. You kept faith with our plan – plan A," he continued.

Mr Osborne admitted that corporate tax reduction measures he put in place over the last six years would never win votes, but said they had come from a "deeply held" belief in enterprise and free markets.

He claimed that such measures would add up to £100bn over this decade.

In Davos for World Economic Forum.My message at CBI lunch is this: as markets around the world heat up, we in Britain will keep a cool head— George Osborne (@George_Osborne) January 22, 2016

"At times when we’ve had to make many other difficult decisions on the public finances I hope those facts make my priorities clear," he said.

The Chancellor was given a boost today as the government's latest borrowing figures showed a fall of some £4.2bn in December compared with a year ago.

He also said that to ensure the UK remains on a sound economic trajectory and that 2016 should be a year of action on a number of fronts.

"For as that Chinese saying goes, talk does not cook rice," he said.

"In turbulent times we need action to deliver economic security at home. At its heart are sound public finances."

Reaffirming the Conservatives as the party for business, Mr Osborne made a dig at his political rivals.

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