:00:23. > :00:26.Good evening. Welcome to our first conference round one the
:00:26. > :00:32.Conservatives here in Manchester. Top of the bill today, George
:00:32. > :00:38.Osborne, who made it clear he was a Chancellor not for turning. The
:00:38. > :00:43.budget deficit would be reduced as planned, there would be no fiscal
:00:43. > :00:48.stimulus. The biggest boost the British economy could get he said
:00:48. > :00:52.if the eurozone put its house in order. He claimed his unbending
:00:52. > :00:58.fiscal stance did leave room for a loser monetary policy, in ways that
:00:58. > :01:02.would allow business to borrow more. Here are the high lights of his
:01:02. > :01:09.speech. Tomorrow morning I will travel to a meeting of European
:01:09. > :01:13.Finance Ministers in Luxembourg. My objective is clear. The eurozone's
:01:13. > :01:17.financial fund needs maximum firepower. The eurozone needs to
:01:18. > :01:21.strengthen its banks. And the eurozone needs to end all the
:01:21. > :01:31.speculation, decide what they are going to do with Greece and then
:01:31. > :01:36.stick to that decision. APPLAUSE. Britain is not immune to all this
:01:36. > :01:40.instability. Indeed, the resolution of the eurozone debt crisis is the
:01:40. > :01:45.single biggest boost to confidence that could happen to British
:01:45. > :01:51.economy this autumn. The time to resolve the crisis is now. They
:01:51. > :02:01.have got to get out and fix their roof, even though it's already
:02:01. > :02:02.
:02:02. > :02:09.pouring with rain. Each day, people suggest to me different things we
:02:09. > :02:13.should be doing. Some say "Borrow more for more spending.". Or they
:02:13. > :02:19.say "Borrow more for temporary cuts in tax." So you would have to put
:02:19. > :02:25.taxes up even more later. Don't think I haven't thought hard about
:02:25. > :02:31.what more we could do, but I don't explore every single option, I do.
:02:31. > :02:41.But borrowing too much is the cause of Britain's problem, not the
:02:41. > :02:43.
:02:43. > :02:48.solution. APPLAUSE.. We can unblock our banking system, we will help
:02:48. > :02:52.businesses create new jobs. Here is how. First, we will help the Bank
:02:52. > :02:58.of England keep interest rates at record lows while the economy is
:02:58. > :03:04.weak. In a debt crisis it is the most powerful stimulus that exists.
:03:04. > :03:10.A 1% rise in our interest rates today would add �10 billion to
:03:10. > :03:15.family mortgage bills alone, at the worst possible time. We have a
:03:15. > :03:20.deficit plan, that commands the confidence of world markets. And
:03:20. > :03:25.has brought stability at home. Very few countries can say that today.
:03:25. > :03:29.The fact that Britain can is thanks to the resolve of this party, and
:03:29. > :03:34.we are generous enough to say this, it is thanks to the resolve of the
:03:34. > :03:43.Liberal Democrats too, working as a coalition, together in the national
:03:43. > :03:49.interest. APPLAUSE. So this is the second part of our plan. We have
:03:49. > :03:53.got to get credit flowing in our economy. Of course, the Bank of
:03:53. > :03:57.England have their own independent judgment to make on quantitative
:03:57. > :04:03.easing. I have said many times before, I will follow the
:04:03. > :04:08.procedures of my predecessor, and give Treasury approval if they ask.
:04:08. > :04:14.But there is more, the Government itself can do to get credit flowing
:04:14. > :04:19.and encourage investment. It is known as credit easing. It could
:04:19. > :04:24.help prevent another credit crunch. Provide a real boost to British
:04:24. > :04:27.business and overtime help solve that age-old problem in Britain.
:04:27. > :04:33.Not enough long-term investment in small businesses and enterprise.
:04:33. > :04:43.And if this party is anything, it is the party of small business and
:04:43. > :04:45.
:04:45. > :04:51.enterprise. APPLAUSE There are business practises, that are
:04:51. > :04:56.irresponsible We will deal with them with a regulatory system that
:04:56. > :05:02.works. But Labour's later policy, that there should be two newly
:05:02. > :05:06.created rates of tax is frankly ridiculous. One for producer, one
:05:06. > :05:10.for predators. One for companies a Labour Chancellor like, one for
:05:10. > :05:14.companies a Labour Chancellor doesn't like. Imagine a Labour
:05:14. > :05:18.Chancellor sitting there in number 11 every morning with a copy of the
:05:18. > :05:23.financial times in one hand and the Guardian in the other, weighing up
:05:23. > :05:29.corporate Britain on some home-made scales of justice, what a
:05:29. > :05:33.completely unworkable idea. I think it is the moment, think it's the
:05:33. > :05:43.moment when this opposition Labour ceased to be either a producer or a
:05:43. > :05:43.
:05:43. > :05:50.Predator. APPLAUSE. Tomorrow's World is being shaped. It is being
:05:50. > :05:55.shaped here in Manchester. Manchester. The first city of the
:05:55. > :05:59.Industrial Revolution. The city where the first computer was built.
:05:59. > :06:09.Where Rutherford split the a Tom and the mill brand brothers split
:06:09. > :06:15.
:06:15. > :06:19.the Labour Party. -- a ment to -- atom. Manchester. Home to the two
:06:19. > :06:25.brilliant scientists I met this morning who have just been awarded
:06:25. > :06:29.the Nobel Prize for physics. Their prize was for the discovery of a
:06:29. > :06:33.substance called graphene, it is the strongest best conducting
:06:33. > :06:37.material known to science, to be used in everything from aircraft
:06:37. > :06:41.wings to microchips. We have already protected the science
:06:41. > :06:46.budget, and today, I am confirming that on top of that, we will fund a
:06:46. > :06:49.national research programme, that will take this Nobel Prize winning
:06:49. > :06:59.discovery from the British laboratory to the British factory
:06:59. > :07:03.
:07:03. > :07:08.floor. We have got to get Britain making things again. I have never
:07:08. > :07:13.believed that Government should just stand on the sidelines, it has
:07:13. > :07:16.no role to play in fostering enterprise and creating jobs. I
:07:16. > :07:21.will intervene with the market doesn't work bg and set it free
:07:21. > :07:25.where it does. And that is not it. We are today extending the mobile
:07:25. > :07:30.phone coverage for up to six million people, the new right the
:07:30. > :07:35.buy and housing plans David Cameron announced yesterday will build
:07:35. > :07:40.200,000 new houses, create 400,000 new jobs, and we are reforming
:07:40. > :07:50.public sector pensions so they are generous to public servants and
:07:50. > :07:52.
:07:52. > :07:59.also fair to taxpayers. APPLAUSE. And let me say this to the unions,
:07:59. > :08:05.to go on strike at a time like this, when you are being offered pensions
:08:05. > :08:15.far more generous than other people could ever afford, will hit growth,
:08:15. > :08:20.
:08:20. > :08:24.it will cost job it is totally irresponsible. APPLAUSE. We are now
:08:24. > :08:28.going to make it much less risky for businesses to hire people. We
:08:28. > :08:38.will double to two years the amount of time you can employ someone
:08:38. > :08:40.
:08:40. > :08:44.before the risk of an unfair dismissal claim. And I can tell you
:08:44. > :08:50.today, we are going to introduce for the first time ever, a fee for
:08:50. > :09:00.taking a case to a tribunal, the hit Gants only get back if they --
:09:00. > :09:01.
:09:01. > :09:07.that litigants only get back if they win. We rending the one way
:09:07. > :09:12.bet against small businesses. Two years ago, I stood here and said we
:09:12. > :09:15.would cut the cost of central bureaucracy by a third. Some were
:09:15. > :09:22.sceptical of politicians who said they could cut waste. We are doing
:09:22. > :09:32.it and we are ahead of plans. Soy can tell you, the next year we will
:09:32. > :09:34.
:09:34. > :09:39.again freeze the council tax. When so many bills are going up, council
:09:39. > :09:45.tax can be the one bill that doesn't. That is help for families,
:09:45. > :09:49.so together, we ride out that storm. I don't pretend to you, that these
:09:49. > :09:53.are not difficult days, and that there are no difficult days ahead,
:09:53. > :10:03.but together we will ride out the storm, and together, we will move
:10:03. > :10:06.
:10:06. > :10:11.into the calmer, brighter seas beyond. Thank you. APPLAUSE. George
:10:11. > :10:14.Osborne. The Chancellor's speech was greeted with a short luke warm
:10:14. > :10:20.standing ovation. It is not that the party faithful here don't like
:10:20. > :10:25.him or what he had to say, they do. But they know that the future of
:10:25. > :10:29.their Government depends on him getting it right. And that makes
:10:29. > :10:33.them apprehensive. Chancellor didn't give many details about the
:10:33. > :10:38.most policy announcement, the easing up of credit for smaller
:10:38. > :10:42.businesses. So I asked Treasury minister Justine Greening what it
:10:42. > :10:46.entailed. It means channelling more money through to small and medium
:10:46. > :10:49.size companies who at the moment are finding far harder than big
:10:49. > :10:52.companies for example to access capital to invest in their
:10:52. > :10:57.businesses. I understand the problem, what is the policy
:10:57. > :11:00.mechanism by which you will do that? Nick explained... I want you
:11:00. > :11:04.to explain. He has just like me a journalist you the minister, what
:11:04. > :11:10.will you do? There are a number of different ways we can make sure
:11:10. > :11:13.that gets through to companies. We can issue bonds, for example, we
:11:13. > :11:18.can purchase private sector assets spwhr. What do you mean issue
:11:18. > :11:22.bonds? At the moment in the States there is a very vibrant market in
:11:22. > :11:26.this area, where you see not just big companies as we see here, who
:11:26. > :11:30.are able to sell bonds into the market and have them trade in a
:11:30. > :11:34.secondary market, that doesn't happen so much in the UK, so what
:11:34. > :11:38.we want do is go beyond simply the quantitative easing if you like
:11:38. > :11:43.that, the Bank of England is doing but to have some of that perhapss
:11:43. > :11:47.more targeted, so we are look a different ways. I know that. Give
:11:47. > :11:52.me a policy that follows the principle? Well, we will be setting
:11:52. > :11:59.those out over the coming months. But you must have some options.
:11:59. > :12:03.they can... What I am trying to do. We can actively, actively put bonds
:12:03. > :12:06.out there ourselves. But the Government would put bonds out?
:12:06. > :12:10.Underwrite other debts that companies... There is a different
:12:10. > :12:13.way we can do this. So this is very interesting, so the Government
:12:13. > :12:18.would issue bonds, the Government issues a lot of bonds at the moment,
:12:18. > :12:22.they are painly being bought by the Bank of England if you go back to
:12:22. > :12:26.printing money but the Government would issue bonds more bonds so it
:12:27. > :12:31.would add to Government borrowing. No. It wouldn't? The assets you
:12:31. > :12:35.would be purchasing are liquid ones so it wouldn't be part... You are
:12:35. > :12:40.still borrowing to produce money. No What would you do with the
:12:40. > :12:44.money? We already, Government is issuing guilts as part and parcel.
:12:44. > :12:51.I knee minister, what would do you with the bonds the help small
:12:51. > :12:55.businesss?. At the moment if you an SME you will probably so go do a
:12:55. > :12:58.High Street bank to borrow. We are saying working at a Government
:12:58. > :13:02.alongside the Bank of England, we will create new channels by which
:13:02. > :13:08.small and medium companies can go more to the market and perhaps in
:13:08. > :13:11.part from Government too to be able to accessory quidty. In what way
:13:11. > :13:17.would you act to help small businesses get money? Well, as I
:13:18. > :13:21.have been saying, it can take the form of under writing. Providing
:13:21. > :13:28.guarantees in a way we don't do at the moment. So there would be, if I
:13:28. > :13:31.was a small business and I wanted to borrow money from the bank or
:13:31. > :13:35.where ever. You would guarantee that debt? That is one of the
:13:35. > :13:41.options that we have got to be able to deliver this mechanism. Another
:13:41. > :13:44.one... Would you, would that be uncovered debt or would you ask for
:13:44. > :13:48.something to cover the state guarantee? Would I have to put
:13:48. > :13:52.something up? You are getting an asset in return in relation to what
:13:53. > :13:57.it is secured on, but the bottom line it is liquid so it wouldn't be
:13:57. > :14:00.part of our debt. The other thing I would say, is the other part is
:14:00. > :14:04.about creating a longer term secondary market. If you are a big
:14:04. > :14:08.company in the UK you can already issue bonds. You have said that
:14:08. > :14:11.minister. The point I am making is important. The big companies don't
:14:11. > :14:15.have to issue bonds because they are sitting on a massive cash pile.
:14:15. > :14:19.As the Chancellor said that is not tissue and we have had the director
:14:19. > :14:25.general of the CBI in the studio admitting that companies are awash
:14:25. > :14:29.with money they are not investing. What I am trying to get to, and I
:14:29. > :14:32.will let you answer and stop interrupting you, is how credit
:14:32. > :14:36.easing in your mind will help small businesses and what you intend to
:14:36. > :14:43.do. It will mean they don't just have to rely on high street banks
:14:43. > :14:47.to provide them with cash. What will you do? We are developing
:14:47. > :14:50.different way, one is under-- underwriting. What is going out
:14:50. > :14:54.with the Bank of England to see that quantitative easing going to
:14:54. > :14:58.businesses, more directly than it does at the moment, those plans are
:14:58. > :15:00.worked up over the,coming week, George will make more of a
:15:00. > :15:03.statement at the November autumn statement. But it is good news for
:15:03. > :15:07.the businesses, at the moment if you a big company, you can go out
:15:07. > :15:16.to the mark, you can trade your debt in a secondary market. That is
:15:17. > :15:21.just not possible for small and Justine Greening. The Treasury
:15:21. > :15:26.later briefed that the scheme would involve smaller companies creating
:15:26. > :15:31.bonds which the Government would then buy, creating a new stream of
:15:31. > :15:35.revenue at a time when the banks aren't lending. But since small
:15:35. > :15:38.companies in this doesn't doesn't don't issue bonds the Treasury
:15:38. > :15:41.warned it would be months before such a scream could be implemented.
:15:41. > :15:45.-- scheme. Iain Duncan Smith is a conference darling these days,
:15:45. > :15:49.which is more than can be said when he was leader of this party. And
:15:49. > :15:52.there was nothing quiet man about his attacks on Labour's welfare
:15:52. > :15:57.record. Here are highlights from his speech.
:15:57. > :16:01.At a time when the British public are having to tighten their belts
:16:01. > :16:07.because of our difficult economy, and the European Commission comes
:16:07. > :16:10.knocking on my door to order me to open up the benefits system to
:16:10. > :16:17.benefit tourists and pay them benefits as and when they arrive
:16:17. > :16:27.regardless of whether they work, I have a very simple answer for them:
:16:27. > :16:35.
:16:35. > :16:40.No, no, no. APPLAUSE. Because as we gather here in
:16:40. > :16:46.Manchester, all of us should be reminded that not far from these
:16:46. > :16:56.buildings we are in now were streets under siege just two months
:16:56. > :16:56.
:16:56. > :17:03.ago. We saw the best and the worst of Britain. At night, a violent
:17:03. > :17:07.minority intent on crime. By morning, the majority clearing up,
:17:07. > :17:11.helping with each other in their communities, and leading the
:17:11. > :17:16.fightback. We should recognise there is a depressing and a
:17:16. > :17:23.familiar context to what we saw. That is the steady rise of an
:17:24. > :17:28.underclass in Britain. A group too often characterised by chaos and
:17:28. > :17:33.dysfunctionality and governed by a perverse set of values. The last
:17:33. > :17:39.Government left us with a welfare system which treated symptoms, not
:17:39. > :17:43.causes. And to each person in a sense it said, you're financially
:17:43. > :17:49.better off out of work, you're better off if you play the system,
:17:49. > :17:54.and if you are bringing up children, you are better off apart. What kind
:17:54. > :18:01.of message was that to Britain? This brings me really to one of the
:18:01. > :18:06.most important issues facing our country, the role of the family.
:18:06. > :18:12.Now this isn't about Government interfering or finger-wagging in
:18:12. > :18:15.family life, it's about Government recognising that stable families,
:18:15. > :18:19.stable two-parent families, are vital for the creation of a strong
:18:19. > :18:23.society. And that is why I intend our welfare reforms that I have
:18:23. > :18:28.already laid out, that these welfare reforms make an impact on
:18:28. > :18:33.the couple penalty where it matters most, amongst families on the
:18:34. > :18:39.lowest incomes. And further more, remember the Prime Minister has
:18:39. > :18:47.made it clear that in this parliament the Government will
:18:47. > :18:54.recognise marriage in the tax system, that is a promise. APPLAUSE.
:18:54. > :18:59.But the riots really, when we reflect back, the riots were a
:18:59. > :19:07.wake-up call. On street gangs, as well. What all this showed us is
:19:07. > :19:15.that a strategy of containment is not an option any more. And that is
:19:15. > :19:24.why I speak of the urgency of change and ask us all here to
:19:24. > :19:31.fulfil our historic role. To put our heads and our hearts in tandem,
:19:31. > :19:37.and become social reformers once again. The riots provided a moment
:19:37. > :19:44.of deep clarity for us all, an opportunity, a reminder that a
:19:44. > :19:49.strong economy also requires a strong social settlement, with
:19:49. > :19:56.stable families ready to play a productive role in their
:19:56. > :20:02.communities. Our task is to achieve this rebalancing of society,
:20:02. > :20:07.restoring our economy must go hand in hand with restoring society.
:20:07. > :20:11.Iain Duncan Smith. David Cameron began the week apologising to two
:20:11. > :20:14.female MPs for something he had said to them in the House of
:20:14. > :20:17.Commons. I asked the welfare Minister Chris Grayling if it
:20:17. > :20:23.wouldn't be more appropriate for the Prime Minister to apologise to
:20:23. > :20:27.women for having the highest rate of female unemployment since 1996.
:20:27. > :20:31.What women would want us to do is set out ways to tackle that problem.
:20:31. > :20:33.18 months ago we inherited some of the most difficult economic
:20:33. > :20:39.circumstances and financial circumstances any Government has
:20:39. > :20:42.ever taken over. What we have also had since then is the emergence of
:20:42. > :20:46.a eurozone financial crisis on a scale nobody had really anticipated,
:20:46. > :20:52.I think. There are huge economic storm clouds around and we are not
:20:52. > :20:55.immune to that. Why apologise to a -- for a passing remark and in the
:20:55. > :20:59.apologise to the women of Britain who have the highest unemployment
:20:59. > :21:02.since there was last a Tory Government? What I would be saying
:21:02. > :21:05.and I think he would be saying to the women of Britain is we are
:21:05. > :21:09.trying to sort that problem out. We are not going to apologise...
:21:09. > :21:13.become the highest level under you. It wasn't the highest level in
:21:13. > :21:16.April of 2010. Unemployment in overall terms is today a little
:21:16. > :21:21.lower than it was six months ago and what we have seen in the labour
:21:22. > :21:24.market the last few months is ups and downs. The last quarterly
:21:24. > :21:27.figures a big step in the wrong direction. The previous two
:21:27. > :21:35.quarters were steps in the right direction. What we have had over
:21:35. > :21:39.the past 12 months in overall terms unemployment flatlining. We have
:21:39. > :21:43.had an increase in the number of jobs. So we have had a mixed
:21:43. > :21:46.picture. My concern is to make sure we pursue policy that is will keep
:21:46. > :21:49.unemployment on a downward curve even in difficult times
:21:49. > :21:52.economically. If he wants to apologise to women, if your
:21:52. > :21:57.Government wants to do that, would it not make more sense it apologise
:21:57. > :22:01.to women for scrapping child benefit among those in the 40% tax
:22:01. > :22:04.bracket? What we would say to anyone affected by the changes,
:22:04. > :22:08.it's not just women in the tax bracket who might lose child
:22:08. > :22:11.benefit in a couple of years, all of us would rather not have come
:22:11. > :22:15.into Government to have to take tough decisions like these. All of
:22:15. > :22:18.us regret having to take decisions of this kind. But we are not the
:22:18. > :22:22.one who is created the biggest financial deficit in our peace-time
:22:22. > :22:24.history. We are dealing with the mess that was created under the
:22:24. > :22:27.previous Government and doing so in some of the most difficult economic
:22:27. > :22:32.circumstances in living memory. understand that. But if you are in
:22:32. > :22:36.the mood to apologise for women, shouldn't you apologise for the tax
:22:36. > :22:40.credit cuts and the higher child care costs which mean it's less
:22:40. > :22:46.economic for women to find jobs? What we have actually done with tax
:22:47. > :22:50.credits is whilst we have taken away tax credits from those on 40
:22:50. > :22:53.or 50,000 a year, we increased tax credit support for people at the
:22:53. > :22:57.bottom end of the scale. We know that there are tough decisions to
:22:57. > :23:00.take. We know they're going to affect women and men alike, but we
:23:00. > :23:03.are trying to make sure we do what we can to protect the poorest and
:23:03. > :23:06.most vulnerable in our society. Either through targeted financial
:23:06. > :23:10.support, or through some of the measures we discussed this morning
:23:10. > :23:19.to help people break out of a cycle of poverty. Do you think it would
:23:19. > :23:22.be worth apologising to women for having more men from a single
:23:22. > :23:26.Oxford college than women in the cabinet, is that something to
:23:26. > :23:32.apologise for? When we have such a good inhad flow of new -- intphroed
:23:32. > :23:36.of new women -- a inflow of women MPs. You have fewer women in the
:23:36. > :23:41.cabinet than one from one Oxford college? It's very much a regret.
:23:41. > :23:45.Isn't that something to apologise for? We have not got more women in
:23:45. > :23:48.the parliament party but we have taken a big step to rectify that.
:23:48. > :23:52.In the last election we had one of the biggest of women intake
:23:52. > :23:56.Conservative MPs we have ever had. Many of them making a good impact
:23:56. > :23:59.in parliament and will go on to Ministerial ranks. We recognise we
:23:59. > :24:03.have a problem but one of the things David Cameron did was start
:24:03. > :24:08.to sort that out. Chris Grayling. Now, as night follows day, there's
:24:08. > :24:13.one thing you can be sure about at a Tory Party conference, that here
:24:13. > :24:18.in the bars and on the fringes they'll be talking about Europe. It
:24:18. > :24:22.really wouldn't be a Conservative conference if they didn't. We sent
:24:22. > :24:25.out our Adam Fleming with his mood box to get the gossip.
:24:25. > :24:29.We have a new conference which means a new set of balls, blue, of
:24:29. > :24:36.course, and we have a true blue question for del tkpwats on the
:24:36. > :24:41.issue of Europe -- delegates. In or out? It's very simple. Out. Why is
:24:41. > :24:46.that? We would save �48 million a day and the country would be a
:24:46. > :24:51.better place. Let's stay in Europe, for now. OK. I tend to agree it
:24:51. > :24:56.should be economical, not political. So, I would go in for now.
:24:56. > :25:03.should be in, but there should be a repatriation of powers like William
:25:03. > :25:07.Hague has suggested. Europe, in or out? Not a hesitation, why is that?
:25:07. > :25:10.I felt that we were better off with the Commonwealth and looking after
:25:11. > :25:15.our own interests and we should go back to doing that and working with
:25:15. > :25:18.the rest of the world, rather than Europe, which is dragging us down
:25:18. > :25:26.and taking our resources from where we want to spend them.
:25:26. > :25:30.Norwegians just had one word for it, nay. You must be relieved that the
:25:30. > :25:34.inbox has a lot of balls in it? I have seen more carefully
:25:34. > :25:44.controlled assess ments of public opinion, that's in our national
:25:44. > :25:51.
:25:51. > :26:01.Why do you say in? Because I think it's important for social and
:26:01. > :26:08.
:26:08. > :26:11.economic integration but I don't Why is that? My father was Swiss,
:26:11. > :26:16.so he was European, all right not in the European Union, but I think
:26:16. > :26:22.we would be completely mad to come out of Europe. 200 years from now
:26:22. > :26:30.we would be a banana Republic on the edge. We want a referendum, we
:26:30. > :26:36.would vote out. There we go. Dr Fox, would you like to vote in our poll
:26:36. > :26:42.for the Daily Politics? Grab a ball, pop is in the slot. It's about
:26:42. > :26:45.Europe, one of your pet topics. I must admit his bodyguards looked
:26:46. > :26:51.scary, I didn't want to push him too much. Would you like to vote in
:26:51. > :26:58.our special machine? What is that about? Europe, in or out? He just
:26:58. > :27:08.laughed! They're like hot cakes. Europe, in
:27:08. > :27:18.
:27:18. > :27:26.or out? Put your ball where your Who put their ball in the middle?
:27:26. > :27:33.APPLAUSE. You are the only in, in a gang of outies, what is that like?
:27:33. > :27:36.I thought were talking about belly buttons. That Republics --
:27:37. > :27:40.represents your party. They're early days in conference, I am sure
:27:40. > :27:43.people who make the decisions the Prime Minister has set out our
:27:43. > :27:47.decision clearly on our relationship with with Europe, has
:27:48. > :27:52.it right. There are no balls left. Let's see which argument has won.
:27:52. > :27:55.The majority of people want Britain to leave. They voted for out, it's
:27:55. > :28:00.interesting because the leadership of the party would much prefer they
:28:00. > :28:06.put their balls in the inbox. That's it for now from Manchester.
:28:06. > :28:10.On the day George Osborne staked all on his current economic
:28:10. > :28:16.strategy coming right without further stimulus and coming right
:28:16. > :28:20.in plenty of time for the next election. It is general hepbgs
:28:20. > :28:24.aprethat he can -- apprehension that he can meet that deadline that
:28:24. > :28:27.perhaps explains why this has been, so far, a somewhat muted conference.
:28:28. > :28:33.Tomorrow's conference highlights include the Home Secretary, Theresa
:28:33. > :28:36.May, the just Secretary, Ken Clarke, -- Justice Secretary, Ken Clarke
:28:36. > :28:40.and the mayor of bond, Boris Johnson -- Mayor of London, Boris