00:00Listen, it's good the economy's growing, because it's not been growing since Labour took over.
00:04In July, the UK was the fastest growing economy in the G7. Since then, it's become the slowest
00:11growing economy in the G7. So the last three months have been a net contraction in the size
00:16of the economy. Listen, if it's starting, if the economy's starting to recover from those
00:22huge tax increases, £25 billion of tax increases on business, there's more regulation that's coming
00:29down the track from Labour, from the government too, which again will hamper businesses' opportunity
00:35to invest and to recruit more people. Those are not good, but I do absolutely believe in the
00:41resilience of British businesses. It's they that drive the economy forward. It's not governments,
00:46it's not regulators. So businesses will survive, despite what Labour's doing, not because of it.
00:53That black hole was self-inflicted because of the pay rises they gave to the public sector
00:59and train drivers without any negotiation, without any strings attached in terms of productivity.
01:04That's where it came from. It's also created partially because they scrapped the Rwanda scheme,
01:09which would have stopped illegal migrants coming over the Channel. They scrapped that scheme.
01:14That was the deterrent. That would have saved us money. That created part of that black hole as
01:18well. It's totally self-inflicted. It's a complete nonsense. They've increased those taxes.
01:24They've increased spending because they want to pay back their union paymasters
01:31and because they want to put a huge amount of money into green projects instead of using
01:36our natural resources alongside the decarbonisation projects that we put in place.
01:41All those things come as a result of Labour's choices, not the legacy they got from us.
01:48One of the advantages of leaving the European Union is we can now do our own trade deals,
01:52which we could not before, with Australia, with New Zealand, with the Pacific countries and
01:58potentially with the USA, which would be a huge opportunity. It's already our biggest trading
02:03partner. If we entered into an EU customs agreement that would lock us out of trade
02:08deals from the rest of the world, that's not sensible.
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