Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, responding to extracts of George Osborne’s speech in Hong Kong, said:

“George Osborne is finally recognising that the recovery, which he choked off in 2010, is still not secure or balanced. But he has not yet admitted that working people are facing a cost-of-living crisis and are £1600 a year worse off since he became Chancellor.

“We need action to secure a stronger recovery and earn our way to higher living standards for all. That’s why we have called for action to boost housing supply, reform of our banks and energy markets, an expansion of free childcare to make work pay and a compulsory jobs guarantee for young people and the long-term unemployed.“

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