TACKLING THE DEBT!

Shadow Chancellor George Osborne yesterday set out the Conservative vision for a new economic model.
He argued that the debt-fuelled model of growth that the Government pursued over the last decade was fundamentally unsustainable, and that we need to move from an economy built on debt to an economy where we save and invest for the future. We have to deal with our debts to get the economy back on its feet.
He argued that the existing policy framework failed to prevent the crisis, is unable to deal with the current weakness of the economy, and won’t be able to stop it happening again. He set out a new economic model for growth based on saving and investment, and a new policy framework that can ensure that private and public debt are sustainable in the future. including:
He also explained why the Government’s argument that we can afford to wait until 2011 before dealing with the deficit is complacent and puts the recovery at risk, and explained why we need to start dealing with the deficit in 2010.
Tackling the huge debt will be a priority of the next Conservative Government. As George Osborne says, we need to start dealing with this problem in 2010.