00:00Well, it's welcome that the economy is growing, albeit modestly, and today's numbers just
00:06strengthen my resolve that we need to go further and faster in delivering growth to make people
00:12in Britain better off. The truth is, the British economy has barely grown for the last 14 years
00:18and that's why we had a cost of living crisis and why British people are worse off. This
00:25new government has come in with a determination, a number one mission to grow the economy.
00:30That takes time, but it's why this week the Prime Minister announced the AI Action Plan
00:36to take advantage of the huge opportunities of new technology. It's why yesterday we announced
00:41investment in housing and infrastructure, foreign direct investment in Bristol. It's
00:45why today the Business Secretary is announcing inward investment in the car manufacturing
00:50sector in Sunderland. And it's why I announced a deal this week to help British business
00:58export more to China, the second biggest economy in the world. We need to do more to grow our
01:03economy to make British people better off. The most important thing to grow the economy
01:09is returning stability to the economy. When I became Chancellor, there was a £22 billion
01:14black hole in the public finances. We couldn't carry on like that because that is the road
01:19to ruin. We saw that under the last Conservative government. When they play fast and loose
01:25with the public finances, it is ordinary working people that pay the price. So I've drawn a
01:30line under that instability and ensured that the sums now add up. Combined with investment
01:37and reform, I'm determined and I'm confident that we can grow our economy and make people
01:42better off.
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