00:00It's far too little. If you look at the size of the economy per capita, per person,
00:06actually it has shrunk not just in the last quarter but in the quarter before that.
00:11And that's because of the choices that this government has taken.
00:13A Chancellor that has slapped taxes on businesses and on jobs, which has destroyed growth,
00:18has gone out and borrowed vast amounts of money, spent a lot of money, elevated inflation,
00:22interest rates higher than they would otherwise have been and for longer.
00:26That is what's weighing down on the economy.
00:28What we need to do is to grip public spending, particularly welfare,
00:32get people off benefits and into work.
00:34And if you do that, you have the space to reduce taxes on businesses so that they can grow.
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