00:00The only people who knew about the 22 billion pound black hole, the reserve for
00:06emergencies had been spent three times over before I became Chancellor, just
00:10three months into the financial year. The only people who knew that were the
00:13previous government, the previous Prime Minister and the previous Chancellor
00:17Jeremy Hunt and they should apologise to the country for the state of the public
00:22finances and the public spending pressures that they've left for their
00:26successors to clear up. Well he was not honest and the word I used was cover up
00:31yesterday and I think that is the right word because they covered up from the
00:35country the true extent of those pressures and we were in the House of
00:39Commons for two hours yesterday and the shadow Chancellor has been touring the
00:43television studios this morning and the one word that we haven't heard from him
00:47is sorry and that's the one word we need to hear from him for the state of the
00:52public finances and public spending pressures after 14 years of
00:56Conservative government.
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