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Chancellor admits he ‘made mistakes’

SterlingGeorge Osborne has confessed that he did not handle the Budget in the best way he could, but insisted austerity was the way forward.

In contrast to the passionate declarations of the newly-installed French President, the Chancellor has said that taking a tough approach is the only way for Britain to climb out of recession.

Since the coalition was elected, a series of spending cuts have taken place, with even more to follow, which has caused households all over the country to question how much longer they will have to endure such hardship. However, George Osborne insisted that Britain is on track to recovery and although the path may be painful, it is the only way to repair the damaged economy.

In a direct address to the nation, the Chancellor admitted that he made some mistakes in the way he presented the Budget, which meant that key facts were not clearly heard. But he said he understood that many people were struggling to find the money to pay their bills and were also concerned about their jobs.

George Osborne maintained that the policies the government had put in place represented the best interests of ‘the mainstream’ of the UK. He also drew attention to the fact that when the coalition came to power, the budget deficit in Britain was described by the Bank of England governor, Mervyn King, as ‘probably the largest in the world of any major country.’

He acknowledged that ‘this is a tough moment’ for the UK but was adamant that some relief would be provided by measures announced in the Budget and said that the government was working hard to ‘get money into people’s pockets.’

Finally, in a sly dig back at France, who have criticised the UK’s economic policies, Mr Osborne said that Britain was being hit because of the eurozone, which was stumbling due to countries which had failed to take decisive action as early as Britain.

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