00:00On Friday, while borrowing costs hit levels not seen since Labour was last in government,
00:05I met business owners and their employees in Chesterfield.
00:09One of them told me that his business will not exist in four years' time
00:14because of this government's policies.
00:17It might not even exist next year.
00:20The Prime Minister may try to blame his inheritance or blame global factors,
00:24but why should anyone trust a word he says over the businesses
00:32who are saying again and again that his budget means fewer jobs,
00:37lower growths and higher borrowing costs?
00:39Mr Speaker, as you know, the global economy is experiencing volatility
00:47and higher borrowing costs.
00:48That is why it was vital that we took the tough and right decisions in the budget
00:53to get our finances back in order.
00:56We had to deal with the £22 billion black hole that they left.
01:00We made difficult cuts, raised taxes to invest in health, public services and housing,
01:06vital to stability, vital to growth,
01:08and we've got an ironclad commitment to our fiscal rules.
01:12And she will welcome, no doubt, the inflation figures from this morning.
01:15But contrast that with the party opposite.
01:19They weren't brave enough in government to take those difficult decisions.
01:24They've opposed all of our measures to stabilise the economy and promote growth.
01:29They're back to the magic money tree.
01:30She wants all the benefits of the budget,
01:33but she can't say how she's going to pay for them.
01:36They haven't changed.
01:37They're still economic vandals and fantasists.
01:40Imagine where we'd be if they were still in charge.
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