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Evening, all, welcome to our first Today At Conference from | :00:14. | :00:15. | |
the Tory Party's annual jamboree here in Birmingham. | :00:16. | :00:17. | |
Philip Hammond made his first speech as Chancellor and set the | :00:18. | :00:23. | |
Government on a new course, with slower budget | :00:24. | :00:25. | |
deficit reduction, and more borrowing to invest. | :00:26. | :00:29. | |
The new Hammond way is good news for Communities Secretary Sajid Javid | :00:30. | :00:32. | |
and Transport Secretary Chris Grayling. | :00:33. | :00:38. | |
We'll hear how they plan to spend the extra dosh. | :00:39. | :00:40. | |
But what do the Tory rank-and-file think of this change of policy? | :00:41. | :00:43. | |
Our Adam talks to party members about the loosening | :00:44. | :00:45. | |
Crack on? Yeah. | :00:46. | :00:52. | |
Err... As soon as possible. | :00:53. | :00:59. | |
It's only three months since Theresa May replaced | :01:00. | :01:01. | |
but already this feels like a very different government. | :01:02. | :01:09. | |
Policies are being ripped up, replaced or refreshed all over | :01:10. | :01:12. | |
the place, including the core Cameron-Osborne policy | :01:13. | :01:13. | |
That's been changed by the new Chancellor, | :01:14. | :01:17. | |
but Philip Hammond began with some warm words for his predecessor. | :01:18. | :01:28. | |
It's easy to forget, six years on, the scale of the legacy | :01:29. | :01:30. | |
of Labour's great recession that we inherited in 2010. | :01:31. | :01:33. | |
Turmoil in the markets, a banking system still reeling | :01:34. | :01:36. | |
from the crisis, a deficit of more than 10% of GDP, the highest | :01:37. | :01:39. | |
And it was the decisions George Osborne, took in those | :01:40. | :01:56. | |
early days, that pulled us back from the precipice and set us | :01:57. | :01:59. | |
..Those tough early choices and the doggedness in sticking | :02:00. | :02:07. | |
with them delivered that intangible, but indispensable | :02:08. | :02:12. | |
Credibility in the markets that helped secure record | :02:13. | :02:20. | |
low borrowing costs, and credibility with business, | :02:21. | :02:25. | |
securing the investment that supported our recovery. | :02:26. | :02:31. | |
And the results are clear for us all to see. | :02:32. | :02:33. | |
2.7 million more people in work today under a Conservative | :02:34. | :02:36. | |
government than in 2010 under Labour. | :02:37. | :02:44. | |
Did we hear that achievement being lauded in Liverpool last week? | :02:45. | :02:47. | |
Of course not, because Corbyn's Labour Party has abandoned | :02:48. | :02:49. | |
the agenda of working people, deserting the middle ground | :02:50. | :02:51. | |
of British politics in favour of the socialist ideology | :02:52. | :02:56. | |
Leaving us, the Conservatives, as the true party of | :02:57. | :03:07. | |
We must look to the future, to the economic challenges ahead. | :03:08. | :03:20. | |
Let's start with the immediate challenge. | :03:21. | :03:24. | |
The markets have calmed since the referendum vote, | :03:25. | :03:26. | |
and many of the recent data have been better than expected. | :03:27. | :03:33. | |
That is the clearest demonstration of the underlying | :03:34. | :03:35. | |
But there is no room for complacency. | :03:36. | :03:44. | |
Many businesses which trade with the EU are uncertain | :03:45. | :03:46. | |
They have understandable questions about the process | :03:47. | :03:51. | |
of the negotiations, about the deal that will be | :03:52. | :03:56. | |
done, about the changes they will have to make to adapt | :03:57. | :03:59. | |
And about what it will all mean for their employees, their company, | :04:00. | :04:08. | |
And I understand their concerns - business, after all, | :04:09. | :04:12. | |
But let me repeat the pledge of the Prime Minister yesterday. | :04:13. | :04:22. | |
As we negotiate our exit from the EU and our future relationship with it, | :04:23. | :04:25. | |
this Government will fight for the best possible deal | :04:26. | :04:30. | |
for British business and British workers. | :04:31. | :04:36. | |
The best possible access to European markets for our manufacturing | :04:37. | :04:38. | |
and our global exporters, ensuring that Britain after Brexit | :04:39. | :04:46. | |
will remain one of the best places in the world for a business | :04:47. | :04:49. | |
to invest, to innovate, and to grow. | :04:50. | :04:54. | |
The independent Bank of England successfully cut interest rates | :04:55. | :05:05. | |
to restore confidence in the wake of the vote. | :05:06. | :05:12. | |
But as the economy responds over the coming months, fiscal policy may | :05:13. | :05:15. | |
Throughout the negotiating process, we are ready to take whatever steps | :05:16. | :05:24. | |
are necessary to protect this economy from turbulence. | :05:25. | :05:30. | |
And when the process is over, we are ready to provide support | :05:31. | :05:33. | |
to British businesses as they adjust to life outside the EU, | :05:34. | :05:38. | |
because Brexit does mean Brexit, and we are going to | :05:39. | :05:40. | |
And in the meantime, I can offer some additional | :05:41. | :05:55. | |
certainty to British businesses and other organisations bidding | :05:56. | :05:57. | |
to receive EU funding while we're still a member. | :05:58. | :06:02. | |
I've already guaranteed the funding for projects signed prior to this | :06:03. | :06:05. | |
The Treasury will offer a guarantee to bidders whose projects meet UK | :06:06. | :06:16. | |
priorities and value-for-money criteria, that if they secure | :06:17. | :06:21. | |
multi-year EU funding before we exit, we will guarantee those | :06:22. | :06:23. | |
payments after Britain has left the EU, protecting British jobs | :06:24. | :06:25. | |
The British people elected us on a promise to restore fiscal | :06:26. | :06:41. | |
discipline, and that is exactly what we are going to do. | :06:42. | :06:45. | |
But we will do it in a pragmatic way, in a way that reflects | :06:46. | :06:49. | |
The fiscal policies that George Osborne set out | :06:50. | :07:00. | |
But when times change, we must change with them. | :07:01. | :07:04. | |
So we will no longer target a surplus at the end | :07:05. | :07:06. | |
the task of fiscal consolidation must continue. | :07:07. | :07:17. | |
And it must happen within the context of a clear, | :07:18. | :07:23. | |
credible fiscal framework that will control day-to-day public | :07:24. | :07:26. | |
spending, deliver value for money, and get Britain back | :07:27. | :07:28. | |
At the Autumn Statement in November, I will set out our plan to deliver | :07:29. | :07:36. | |
long-term fiscal sustainability, while responding to the consequences | :07:37. | :07:41. | |
of short-term uncertainty and recognising the need | :07:42. | :07:43. | |
for investment to build an economy that works for everyone. | :07:44. | :07:50. | |
A new plan for the new circumstances Britain faces. | :07:51. | :07:54. | |
Our stock of public infrastructure ? like our roads, railways, | :07:55. | :07:57. | |
flood defences ? languishes near the bottom of the developed | :07:58. | :07:59. | |
countries league table after decades of under-investment. | :08:00. | :08:05. | |
And our businesses, too, are not investing enough. | :08:06. | :08:09. | |
All of this must change to build an economy that works for everyone. | :08:10. | :08:15. | |
We need to close that gap with careful, targeted public | :08:16. | :08:17. | |
investment in high-value infrastructure and encouragement | :08:18. | :08:23. | |
of more private investment in British enterprises. | :08:24. | :08:27. | |
One of the key messages of the referendum campaign was that | :08:28. | :08:30. | |
large parts of our country feel left behind. | :08:31. | :08:34. | |
They see the country getting richer, but they don't feel | :08:35. | :08:36. | |
A dangerous divide is opening up between those who believe | :08:37. | :08:44. | |
they have a stake in the economy and those who do not. | :08:45. | :08:48. | |
And it's one of the central missions of this government to tackle that | :08:49. | :08:51. | |
divide, to see the benefits of economic growth shared more | :08:52. | :08:56. | |
evenly across the regions, and across the generations. | :08:57. | :09:01. | |
A key part of this agenda is harnessing the economic | :09:02. | :09:03. | |
The Northern Powerhouse project takes a visionary approach, | :09:04. | :09:11. | |
linking the great cities of the North into a coherent | :09:12. | :09:16. | |
economic entity, an interconnected region that raises productivity | :09:17. | :09:18. | |
and delivers growth by making it easier and cheaper for firms | :09:19. | :09:20. | |
and individuals to move goods, people and ideas. | :09:21. | :09:31. | |
And I want to pledge to you today that the Treasury | :09:32. | :09:34. | |
under my leadership will continue to drive the Northern Powerhouse | :09:35. | :09:42. | |
project, working in partnership with local leaders to see it | :09:43. | :09:44. | |
deliver its potential for people in the North. | :09:45. | :09:48. | |
But our economic future must not be defined by Brexit alone. | :09:49. | :09:51. | |
So as we tread that path to becoming an independent sovereign country | :09:52. | :09:58. | |
once again, and forge a new and exciting role | :09:59. | :10:00. | |
for our nation in the world, let us resolve to tackle | :10:01. | :10:05. | |
the challenges we face at home with renewed vigour - | :10:06. | :10:08. | |
dealing with the deficit, raising our productivity, | :10:09. | :10:09. | |
rebalancing our economy, rebuilding our infrastructure. | :10:10. | :10:19. | |
And ensuring that everyone, in every part of our country, | :10:20. | :10:22. | |
can contribute to and benefit from the growth that follows. | :10:23. | :10:29. | |
Paying our way in the world, standing tall amongst our | :10:30. | :10:34. | |
competitors, attracting the brightest and the best | :10:35. | :10:38. | |
to deliver the vibrant, successful economy that will mean | :10:39. | :10:43. | |
when future generations look back on our decision in 2016, | :10:44. | :10:46. | |
they will see not the end of an era, but the beginning of a new age - | :10:47. | :10:50. | |
not a country turning inward, but a nation reaching out | :10:51. | :10:52. | |
decisively, confidently, to grasp new opportunities. | :10:53. | :11:07. | |
A bigger, better, greater Britain, truly a country that | :11:08. | :11:09. | |
Both the new Chancellor and the Prime Minister | :11:10. | :11:24. | |
are trying to rebrand the Tories as the workers' party, | :11:25. | :11:27. | |
but I asked David Gauke, he's the Chief Secretary to the Treasury, | :11:28. | :11:30. | |
how could that be when almost six million workers | :11:31. | :11:32. | |
You ensure that those people pay less in tax, | :11:33. | :11:44. | |
you ensure that you have a higher national living wage, | :11:45. | :11:47. | |
But, actually, I come back to this point - if we want to have | :11:48. | :11:55. | |
a high-wage, high-skill economy, we've got to make sure that we've | :11:56. | :12:00. | |
got the environment in place to improve our skills, | :12:01. | :12:02. | |
And also, I'll make this point, it is very important | :12:03. | :12:07. | |
that we are a country that continues to create lots of jobs. | :12:08. | :12:12. | |
And our record of the last six years in terms of job creation, | :12:13. | :12:15. | |
as a country, is extremely strong by any standards, historical | :12:16. | :12:18. | |
And, it is, you know, it is good that we are not a society that's | :12:19. | :12:24. | |
For six years, indeed, in the run-up to the 2010 election, | :12:25. | :12:30. | |
so more than six years, your party told us that the guiding | :12:31. | :12:32. | |
light in its welfare reforms and its attitude to the economy | :12:33. | :12:36. | |
That if you got a job, and did the right thing, | :12:37. | :12:45. | |
which Mr Osborne used to say all the time, it would pay to work. | :12:46. | :12:51. | |
And yet six years after you've been in power, 50% of our fellow citizens | :12:52. | :12:56. | |
who are in poverty have at least one family member in work. | :12:57. | :13:03. | |
So, in what way has that made work pay? | :13:04. | :13:06. | |
They're working, and they live in poverty. | :13:07. | :13:09. | |
Well, what we've seen is a significant increase | :13:10. | :13:13. | |
in the number of jobs in this country, I think something | :13:14. | :13:15. | |
One of the reasons why we have had this, and it's undoubtedly, | :13:16. | :13:23. | |
you know, a success, and I would say this, | :13:24. | :13:25. | |
But undoubtedly it's been a success of policy in the last six years that | :13:26. | :13:30. | |
employment numbers are as high as they are, and one | :13:31. | :13:32. | |
of the reasons why that has happened is that, | :13:33. | :13:34. | |
actually, welfare reform has played a part, more people are essentially | :13:35. | :13:37. | |
seeing that it is worthwhile for them working. | :13:38. | :13:41. | |
I know you're not going to give us any details, because it's got | :13:42. | :13:50. | |
to wait for the Autumn Statement in November, but are we going | :13:51. | :13:53. | |
to borrow more to invest? As a general principle. | :13:54. | :13:56. | |
I think I would make two points about the Autumn Statement. | :13:57. | :14:00. | |
First of all is the acknowledgement, because of the uncertainty | :14:01. | :14:02. | |
of the Brexit vote, it is likely that tax receipts will be lower | :14:03. | :14:06. | |
than was previously projected, so that means that we are not | :14:07. | :14:13. | |
in a position to meet our 2019-20 surplus target... | :14:14. | :14:16. | |
So, the deficit reduction, it will continue to reduce, | :14:17. | :14:19. | |
but at a slower pace? Umm...Well, we'll see. | :14:20. | :14:22. | |
Oh, it might not even continue to reduce? | :14:23. | :14:27. | |
I'm not going to speculate, because we'll see what the Office | :14:28. | :14:30. | |
for Budget Responsibility determines, | :14:31. | :14:32. | |
The second point is that we are in a set of circumstances | :14:33. | :14:39. | |
where interest rates are very low, the way the gilts market has | :14:40. | :14:42. | |
moved, we can borrow more cheaply than previously. | :14:43. | :14:44. | |
And if there is a case for high-value infrastructure, | :14:45. | :14:46. | |
and we have to be pretty tough about this, | :14:47. | :14:48. | |
this is not about relaxing day-to-day spending. | :14:49. | :14:53. | |
But if there is a case for high-value infrastructure that | :14:54. | :14:57. | |
helps our long-term productivity, then, as the Chancellor, | :14:58. | :15:00. | |
I think, has made clear, we're willing to look at that. | :15:01. | :15:02. | |
We don't know yet how much extra money will be sloshing around, | :15:03. | :15:06. | |
that will have to wait for the Autumn Statement in November, | :15:07. | :15:09. | |
but we do know already two of the beneficiaries: | :15:10. | :15:13. | |
the Communities Secretary, Sajid Javid, | :15:14. | :15:15. | |
and the Transport Secretary, Chris Grayling. | :15:16. | :15:20. | |
Ultimately, we have a responsibility to build more houses, | :15:21. | :15:26. | |
a responsibility not just to our constituents, | :15:27. | :15:29. | |
It is for that reason that we are going to take | :15:30. | :15:37. | |
some unprecedented steps to open up the market. | :15:38. | :15:42. | |
a massive ?3 billion home-builders fund. | :15:43. | :15:48. | |
This major package will help us build more than 225,000 new homes | :15:49. | :15:53. | |
and will create thousands of jobs, up and down the country. | :15:54. | :15:58. | |
Now, second, we will pilot a new initiative, | :15:59. | :16:02. | |
accelerated construction on public land. | :16:03. | :16:07. | |
We will take government-owned land and we'll partner | :16:08. | :16:16. | |
with contractors and investors to speed up house building. | :16:17. | :16:22. | |
We will create new supply chains using things like off-site | :16:23. | :16:25. | |
construction, and we will encourage new models of building | :16:26. | :16:29. | |
to make houses that people want more cheaply and that pace. | :16:30. | :16:33. | |
These measures will allow us to get started | :16:34. | :16:38. | |
We will get more homes built more quickly. | :16:39. | :16:44. | |
Third, we will bring forward a package of measures | :16:45. | :16:48. | |
to encourage urban regeneration and to build on brownfield land. | :16:49. | :16:50. | |
We want to radically increase brownfield development | :16:51. | :16:53. | |
and bring life back to abandoned sites. | :16:54. | :16:56. | |
That means delivering high-quality housing for families, | :16:57. | :17:03. | |
bringing new energy to our high streets and town centres. | :17:04. | :17:06. | |
It means abandoned shopping centres being transformed | :17:07. | :17:08. | |
into new communities, and increasing the density | :17:09. | :17:10. | |
of housing around stations to build homes that people want to live in. | :17:11. | :17:13. | |
The champagne socialist Shadow Foreign Secretary | :17:14. | :17:24. | |
who cringes when she sees the English flag. | :17:25. | :17:30. | |
She already owns at least three houses worth a total of ?4 million. | :17:31. | :17:38. | |
And yet she wants to stop working people from owning the homes | :17:39. | :17:47. | |
raise families in, want to grow old in. | :17:48. | :17:52. | |
Hasn't it been a momentous year for our politics? | :17:53. | :18:01. | |
Ladies and gentlemen, I am enormously proud to have been | :18:02. | :18:06. | |
part of a team that won the argument that Britain has a better | :18:07. | :18:10. | |
and brighter future outside the European Union. | :18:11. | :18:14. | |
But, you know, I'm also really proud | :18:15. | :18:28. | |
to have been part of the team that helped elect our new leader | :18:29. | :18:31. | |
I know she and our team will deliver that better and brighter future, | :18:32. | :18:36. | |
and a country that works for everyone. | :18:37. | :18:37. | |
I travel into Waterloo each day, the trains are packed. | :18:38. | :18:48. | |
20 years ago, around 110,000 people a day use that station. | :18:49. | :18:54. | |
We're providing longer platforms and longer trains, | :18:55. | :19:03. | |
which will help ease that congestion. | :19:04. | :19:05. | |
And it's not just in London - there will be new trains | :19:06. | :19:08. | |
more seats in Manchester, Liverpool, Leeds and here in Birmingham. | :19:09. | :19:14. | |
Ladies and gentlemen, unlike the Labour Party, | :19:15. | :19:16. | |
as Conservatives, we want to move forwards and not backwards. | :19:17. | :19:19. | |
We've built a new railway line that links our major cities, | :19:20. | :19:32. | |
so we've got more space for freight trains and more space for commuter | :19:33. | :19:35. | |
And that, ladies and gentlemen, nothing more, nothing less, | :19:36. | :19:42. | |
is the reason we need to press ahead with HS2. | :19:43. | :19:45. | |
Our whole country will benefit from this new project. | :19:46. | :19:49. | |
I had recently my first experience of a driverless car. | :19:50. | :19:54. | |
And believe me, it's a very unusual experience. | :19:55. | :19:58. | |
But do you know what? It's all of our futures, | :19:59. | :20:01. | |
and I want to say to the motor manufacturers of the world, | :20:02. | :20:04. | |
come to the UK, develop your technology here. | :20:05. | :20:07. | |
the most knowledgeable workforce in the world. | :20:08. | :20:12. | |
and this government will support you. | :20:13. | :20:17. | |
The march of the Brexiteers continues here in Brum, | :20:18. | :20:25. | |
this is now ready much a full-on pro-Brexit party, | :20:26. | :20:28. | |
and today we heard from two leading lights of the Leave campaign - | :20:29. | :20:31. | |
the Environment Secretary, Andrea Leadsom, | :20:32. | :20:35. | |
and the Secretary of State for International Trade, Liam Fox. | :20:36. | :20:41. | |
I can't tell you what a great pleasure it is to be here today. | :20:42. | :21:03. | |
As you all know, I'm so optimistic about our future, | :21:04. | :21:07. | |
following our decision to leave the EU and the chance we now have, | :21:08. | :21:12. | |
to plot a new course for ourselves in the world. | :21:13. | :21:16. | |
we're getting on with the job, putting the country first. | :21:17. | :21:32. | |
Now, I don't know about you, but it seemed to me their | :21:33. | :21:37. | |
leadership election dragged on far too long. | :21:38. | :21:42. | |
If only they'd come to me for advice on how to keep it short! | :21:43. | :21:50. | |
None of us will forget the harrowing images of last winter's floods. | :21:51. | :21:54. | |
And as I saw for myself, last week in York and Leeds, | :21:55. | :21:57. | |
the devastation caused to communities. | :21:58. | :22:02. | |
The maintenance and improvement of flood defences | :22:03. | :22:05. | |
That's why we're spending a record ?2.5 billion on 1500 schemes, | :22:06. | :22:12. | |
which will better protect 300,000 homes. | :22:13. | :22:19. | |
Today, we continue to lead on the environment. | :22:20. | :22:31. | |
Committing to being the first generation | :22:32. | :22:33. | |
to leave it in a better state than we found it. | :22:34. | :22:37. | |
And as we prepare to leave the EU, it's crucial | :22:38. | :22:40. | |
that we provide our farmers with certainty and continuity. | :22:41. | :22:45. | |
So it's really important that we've been able | :22:46. | :22:48. | |
to confirm the same level of agricultural support until 2020. | :22:49. | :22:55. | |
And that we will honour all environmental agreements | :22:56. | :22:58. | |
signed before the Autumn Statement for their lifetime, | :22:59. | :23:01. | |
even if they run beyond our departure from the EU. | :23:02. | :23:06. | |
Last year, we exported more than ?18 billion worth of food and drink, | :23:07. | :23:17. | |
exports are up by 6% and growing strongly. | :23:18. | :23:23. | |
And I can tell you with a particular satisfaction that, only last month, | :23:24. | :23:32. | |
the French voted British lamb their product of the year. | :23:33. | :23:38. | |
The result of our referendum in June was clear. | :23:39. | :23:50. | |
British people instructed us that they wanted to be given | :23:51. | :23:53. | |
more control over the decisions that affect them. | :23:54. | :23:59. | |
And that is what we are working hard to deliver. | :24:00. | :24:06. | |
And that includes getting the deal right for Britain abroad, | :24:07. | :24:08. | |
making a success of our exit from the European Union. | :24:09. | :24:11. | |
And shaping an ambitious global role that puts Britain's interests first. | :24:12. | :24:13. | |
But there are two problems that we have to tackle. | :24:14. | :24:31. | |
In case you have not noticed, this guy did not fall down. Instead of | :24:32. | :24:40. | |
investors fleeing the UK, we have seen a record amount of inward | :24:41. | :24:45. | |
investment. We saw 24 billion investment by SoftBank in Cambridge, | :24:46. | :24:49. | |
as well as a host of others, including Apple and GSK. | :24:50. | :24:54. | |
And why does investment come to Britain? | :24:55. | :24:56. | |
It comes, because we have many natural advantages, advantages | :24:57. | :24:58. | |
When George Osborne was Chancellor, he was all about driving down | :24:59. | :25:21. | |
the deficit and even getting the public finances into surplus. | :25:22. | :25:23. | |
but what about people here at the conference? | :25:24. | :25:26. | |
Do they want to ease off on deficit reduction or crack on? | :25:27. | :25:30. | |
David, hang up the phone and do the mood box! | :25:31. | :25:33. | |
I will probably ease off now we have gone Brexit, | :25:34. | :25:37. | |
OK, ease off because of Brexit. Definitely. | :25:38. | :25:43. | |
To look back at George Osborne's history, I think he did a good job, | :25:44. | :25:47. | |
but you know, many people look at him and think, | :25:48. | :25:49. | |
Was he a bit obsessed about cuts, do you think? | :25:50. | :25:54. | |
Well, maybe... I'm just going to stop you there. | :25:55. | :25:57. | |
Andrea, would you like to do the Daily Politics balls? | :25:58. | :26:02. | |
Your first go at the Daily Politics balls in the Cabinet! No? | :26:03. | :26:05. | |
Are you politely dismissing the balls? | :26:06. | :26:10. | |
Yeah, more cuts? Well... | :26:11. | :26:14. | |
Well, we've got to reduce the deficit. | :26:15. | :26:17. | |
You can't run a country on a deficit budget. | :26:18. | :26:21. | |
We've started, we need to finish what we started. | :26:22. | :26:24. | |
Thick book, what have you got there? Call Me Dave by Lord Ashcroft. | :26:25. | :26:27. | |
I suppose you're allowed to read that now he's gone. | :26:28. | :26:29. | |
You weren't allowed to read that last year! | :26:30. | :26:31. | |
Do you think there is more that can be cut from the public finances? | :26:32. | :26:45. | |
Yes. Such as? Some areas of the health service. | :26:46. | :26:49. | |
Some areas, I meant like the administrators. | :26:50. | :26:54. | |
Who would you rather have a drink with, | :26:55. | :26:56. | |
George Osborne or Philip Hammond? | :26:57. | :26:57. | |
I think George might have the edge, I guess, maybe! | :26:58. | :26:59. | |
Better banter. Yeah, I'd agree. | :27:00. | :27:02. | |
Do think we should have a surplus by 2020? | :27:03. | :27:04. | |
Hopefully, I would say so, yes, definitely. | :27:05. | :27:06. | |
Don't abandon the target, make sure it keeps going. | :27:07. | :27:09. | |
Guys, why are you watching Boris's speech | :27:10. | :27:11. | |
when you could be doing the Daily Politics balls?! | :27:12. | :27:13. | |
Deficit reduction, ease off or crack on? | :27:14. | :27:15. | |
without prime ministerial authorisation? | :27:16. | :27:23. | |
Well, of course, ease off or crack on, what does that mean? | :27:24. | :27:25. | |
Well, we said were going to get rid of the deficit, | :27:26. | :27:29. | |
we're just not going to do a surplus. | :27:30. | :27:31. | |
I've been waiting to do this all year. | :27:32. | :27:34. | |
It's Christmas, here you go, get a ball in! | :27:35. | :27:36. | |
I think it's time to ease off on the austerity, | :27:37. | :27:44. | |
We've got more important things on the table. | :27:45. | :27:52. | |
Deficit reduction, crack on or ease off? | :27:53. | :27:54. | |
When do you want it gone by? As soon as possible. | :27:55. | :27:57. | |
Well, Philip Hammond, I hope you were watching, | :27:58. | :27:59. | |
because your party faithful have issued your instructions | :28:00. | :28:01. | |
when it comes to the deficit - slightly unscientifically. | :28:02. | :28:03. | |
Loads of them want you to crack on with getting it down! | :28:04. | :28:09. | |
on the day that fiscal consolidation, | :28:10. | :28:13. | |
which has been at the centre of Tory economic policy since 2010, | :28:14. | :28:16. | |
Who knows what might happen tomorrow? | :28:17. | :28:23. | |
Home Secretary Amber Rudd takes to the stage - | :28:24. | :28:26. | |
Work and Pensions Secretary Damian Green is also speaking - | :28:27. | :28:30. | |
what's his approach to welfare reform? | :28:31. | :28:33. | |
And what exactly are Mrs May's plans to expand grammar schools? | :28:34. | :28:37. | |
Perhaps Education Secretary Justine Greening will tell us. | :28:38. | :28:40. | |
I'll be back in the thick of it tomorrow at noon with another | :28:41. | :28:44. | |
edition of the Daily Politics here from Birmingham on BBC Two, | :28:45. | :28:47. | |
and then again after Newsnight tomorrow night | :28:48. | :28:53. | |
Until then, nighty-night, don't let the budget deficit bite. | :28:54. | :28:58. |