Calling time on Brown's age of irresponsibility

George Osborne will tomorrow unveil a radical long-term plan to end Brown’s Age of Irresponsibility.

The Shadow Chancellor will call for financial and fiscal responsibility, and in a document entitled Reconstruction - our plan for a strong economy, we propose a number of ground-breaking measures to reform the tax system and create a more balanced economy.

These measures include:

• Scrapping the discredited fiscal rules
• Creating a new Office for Budget Responsibility to assess independently the sustainability of the public finances and hold the Government to account
• Giving the Bank of England a far greater role in market oversight
• Creating a new Debt Responsibility Mechanism
• Introducing a new system of deposit insurance for savers for the first £50,000 of deposits, to be paid out within a week.

George stressed our Plan for a Strong Economy will show people that “the election of a Conservative Government would herald a new age of responsibility and economic reconstruction”