A bullish George Osborne, the UK chancellor, declared victory yesterday in his battle with the opposition Labour party over austerity, proclaiming that recovery was under way and that recent “early signs” of growth were vindication of his economic policies.
“The economic collapse was even worse than we thought. Repairing it will take even longer than we hoped. But we held our nerve when many told us to abandon our plan,” the chancellor said.
Claiming that Britain’s economy was “turning a corner”, he added that economic indicators had improved even though the government had not changed course on its fiscal plans, something his critics said was highly unlikely.
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