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The Conservatives' Response to the Credit Crunch - George Osborne speaks at LSE

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George Osborne, shadow chancellor of the Exchequer and MP for Tatton, Cheshire, gave a major economic speech to a packed audience at the London School of Economics and Political Science (LSE) today (Friday 11 January).

Appearing at the event with David Frost, director general of the British Chambers of Commerce, George Osborne examined the credit crunch and analysed how the first bank run since Victorian times could have been prevented.

'The British economy faces its most testing time for a generation.' He said. 'My argument today is a simple one. Britain's economy is not prepared for the difficult times that lie ahead. The past fifteen years of global growth provided the perfect opportunity to prepare our economy for the 21st century... Around the world, countries like Ireland and Australia shrewdly took advantage of these huge opportunities... Britain did not.'

Click here to download a transcript of the speech| (PDF)


The event was organised in cooperation with the British Chambers of Commerce

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