Osborne sets out benchmarks for economy
Osborne sets out benchmarks for economy
Wednesday 3rd February 2010
George Osborne has set out a series of benchmarks against which he claims the success of the Conservative economic plans will be judged.In a speech in central London on Tuesday morning the shadow chancellor revealed eight specific 'benchmarks for Britain' aimed at helping the country recover from the worst recession since the second world war.
Mr Osborne attempted to move the debate away from spending cuts, after accusations from business secretary Lord Mandelson that the Tories were in "complete confusion" over plans to cut the country's record budget deficit.
Within the announced benchmarks were plans to create a "more balanced economy" plus creating macroeconomic stability and protecting the country's credit rating which Mr Osborne claims is in danger of being downgraded.
He also said the Tories were planning on getting the country working again, with fewer children living in workless households and tackling the problem of youth unemployment.
While setting out broad themes about what the Conservatives would do if they win the general election the particular details of how the party would go about achieving economic recovery were absent.
He said the UK public could judge the party on the new benchmarks, declaring: "Hold us to account, we will be accountable."
At the end of the new speech, the shadow chancellor also read out a list of business leaders now supporting the Conservative plans, including EasyJet founder Sir Stelios Haji-Ioannou.
Slightly embarrassing for the opposition though, Mr Osborne's announcement economist Lord Stern, who wrote a key climate change report for Labour, would be advising the party on plans to create a greener economy appeared to backfire.
Shortly after the announcement Lord Stern's office released a statement claiming that while he was happy to talk to the Conservatives he was also talking to the government and would not be taking on any form of advisory role.
Labour has continued to criticise the Conservative plans to make public spending cuts immediately if victorious in the coming election, claiming such measures would "strangle" any economic recovery.
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