Labour, Ukip 'threat to free trade'

Chancellor George Osborne says Labour and Ukip policies threaten a free market economy

Chancellor George Osborne says Labour and Ukip policies threaten a free market economy

First published in National News © by

George Osborne will launch a stinging attack on Labour and Ukip, warning they are threatening the political consensus in place since Thatcherism that Britain should be an open market economy.

The Chancellor will say that since the fall of the Berlin Wall, governments have championed free trade and welcomed foreign investment, a situation now threatened by "parties on the left and populist right".

In a speech to the CBI, Mr Osborne will apparently take aim at Opposition policies such as an energy price freeze and indexing the minimum wage to average earnings, claiming Labour wants to "pretend that they can re-establish control over all aspects of the economy".

Meanwhile, in what many will see as a jab at eurosceptic Ukip, the Chancellor will warn the party takes advantage of "the understandable anxieties of a population unsettled by the pace of globalisation, and peddles a myth that Britain can stop the world and get off".

These "pull up the drawbridge" policies will lead Britain into an economic decline that will adversely affect the poor more than the rich, he will say.

Calling on supporters of free markets and "competitive" tax rates to "make your voice heard", Mr Osborne will say: "For all of my adult life, since the fall of the Berlin Wall in the year I left school, there has been a political consensus in this country that Britain's future lies as an open, market economy.

"Since then, under governments of all political persuasions, we have championed free trade - and welcomed foreign investment - and built competitive, open markets under the supervision of robust independent regulation.

"Sadly, that consensus that we put the national economic interest first - ahead of opportunist party advantage - is under threat for the first time in twenty five years.

"Political parties on the left and the populist right have this in common: they want to pull up the drawbridge and shut Britain off from the world.

"They want to constrain foreign investment in our economy, and deprive us of the British jobs that it has created in industries from car manufacturing to energy.

"They want to set prices, regulate incomes, impose rent controls, wage war on big business, demonise wealth creation, renationalise industries - and pretend that they can re-establish control over all aspects of the economy.

"Whether from the left or the populist right, we now see a deeply pessimistic, depressing, anti-business agenda.

"It takes advantage of the understandable anxieties of a population unsettled by the pace of globalisation, and peddles a myth that Britain can stop the world and get off.

"It portrays the changes to the international economy that have lifted hundreds of millions of people out of poverty, and opened vast new markets for Britain, as nothing more than a race to the bottom.

"But price and incomes controls, re-nationalisations, and erecting the government as the enemy of business and wealth creation will lead Britain down a path of relative economic decline.

"So we ask the people of Britain: reject the forces of pessimism on the left and the populist right.

"Reject their anti-business, anti-free market, anti-jobs agenda which tries to play to the politics of anger - but is not the politics of the answer.

"Britain is on the rise again so let the British people say to them both: you will not drag us down. The forces of optimism will succeed."

Meanwhile, the Chancellor will insist that despite "a real sense of optimism" in Britain it will take another six years to fully secure the economic recovery.

He will say: "It has taken time, and effort, and belief, and sacrifice to bring our country back from the brink to the real sense of optimism that is growing in Britain today.

"But it would be a grave mistake to think our job is done, or think we can go easy and slow down.

"Our task to secure our country's economic future is not even half done.

"This is a decade long turn around job we have embarked on - and we are determined to see it through."

Comments (1)

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9:18am Wed 21 May 14

RealLivin says...

MR Osborne is welcomed to the land of "I have no idea what I am talking about"
Quote from above
"They want to constrain foreign investment in our economy, and deprive us of the British jobs that it has created in industries from car manufacturing to energy.

Its not foreign investment that is the issue it is the lack of investment by successive governments that is the problem, isnt Toyota and Honda reducing their investments and laying of in Derby and Swindon, Nissan have laid off a number of temp workers, hopefully these will get taken back on in their new investment. Private foreign investment will only remain while Britian is competitive in wages ie low paid and Nissan is like an other company if profits start falling they will abandon Britian without a second thought.

Quote from above
"They want to set prices, regulate incomes, impose rent controls, wage war on big business, demonise wealth creation, renationalise industries".

Yes we want to set prices especially on energy, we are fedup of foreign owned energy companies ripping us off just to generate profit and line their own pockets, while people cannot afford to heat their homes.

Yes we want to regulate incomes so that people are not paid stupidly high wages for Administrative jobs while those that actually produce products or provide services, those that actually make the money are left in low paid jobs struggling to make ends meets.

Yes we want Rent control so private land lords cannot raise rents on a wim just for profit, take in unemployed and charge the benefits system over prices rents which we the tax payer are paying for.

Yes we need war on big business who dont pay there fair share of taxes, companies who pay low wages when the can afford to pay a fair wages, companies who use Zero hour contracts.

Yes demonise wealth creation for there sake of wealth creation, and those who already have millions but want more just to be richer than others. Companies and individuals who are only seeking profit to line their own pockets not caring what suffering this causes to others.

Yes Re nationalise certain industries to a level that protects Britian when foreign investors disappear or start ripping of Britian.

Mr Osborne along with the rest of the Tories, sincerely believe that individuals and private companies generate wealth for the good of the country, I suggest you guys wake up private industry is only interested in its own profits and some larger companies do not care how they make that profit. The reliance on foreign private sector has devastating potential and should not be allowed we need to stand on our own two feet.
MR Osborne is welcomed to the land of "I have no idea what I am talking about" Quote from above "They want to constrain foreign investment in our economy, and deprive us of the British jobs that it has created in industries from car manufacturing to energy. Its not foreign investment that is the issue it is the lack of investment by successive governments that is the problem, isnt Toyota and Honda reducing their investments and laying of in Derby and Swindon, Nissan have laid off a number of temp workers, hopefully these will get taken back on in their new investment. Private foreign investment will only remain while Britian is competitive in wages ie low paid and Nissan is like an other company if profits start falling they will abandon Britian without a second thought. Quote from above "They want to set prices, regulate incomes, impose rent controls, wage war on big business, demonise wealth creation, renationalise industries". Yes we want to set prices especially on energy, we are fedup of foreign owned energy companies ripping us off just to generate profit and line their own pockets, while people cannot afford to heat their homes. Yes we want to regulate incomes so that people are not paid stupidly high wages for Administrative jobs while those that actually produce products or provide services, those that actually make the money are left in low paid jobs struggling to make ends meets. Yes we want Rent control so private land lords cannot raise rents on a wim just for profit, take in unemployed and charge the benefits system over prices rents which we the tax payer are paying for. Yes we need war on big business who dont pay there fair share of taxes, companies who pay low wages when the can afford to pay a fair wages, companies who use Zero hour contracts. Yes demonise wealth creation for there sake of wealth creation, and those who already have millions but want more just to be richer than others. Companies and individuals who are only seeking profit to line their own pockets not caring what suffering this causes to others. Yes Re nationalise certain industries to a level that protects Britian when foreign investors disappear or start ripping of Britian. Mr Osborne along with the rest of the Tories, sincerely believe that individuals and private companies generate wealth for the good of the country, I suggest you guys wake up private industry is only interested in its own profits and some larger companies do not care how they make that profit. The reliance on foreign private sector has devastating potential and should not be allowed we need to stand on our own two feet. RealLivin
  • Score: 1
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