he Budget on June 22 must achieve two crucial things for this country — first, a credible plan to tackle Britain’s record budget deficit and restore economic stability; and, second, a five-year plan for a sustained private sector recovery and a rebalanced economy.
Each presents a formidable challenge, so you might think that a visit to the G20 in South Korea would be an unwelcome distraction. Far from it. In fact, I have also taken the opportunity to visit China, just three weeks after taking office.
Neither of our Budget goals will be fully possible unless we work with other countries. As the eurozone sovereign debt crisis has shown, economic stability is not something any country can guarantee on its own. And a sustainable private sector recovery in Britain can be built only on a new model of economic growth, where we export more to new economic giants such as China.
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