George Osborne has stressed that Britain needs to move from an economy built on debt to one "powered by savings and real returns on effort".
In a speech to the Birmingham Chamber of Commerce, which was webcast on Conservatives.com, the Shadow Chancellor warned that "our economy is broken and Gordon Brown’s sticking plasters won’t mend it".
He set out a vision for the economy aimed at "restoring confidence today and belief in a better tomorrow":
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A corporate sector less dependent on debt, with more equity investment in start-ups
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Public sector reform so that government lives within its means and delivers world-class public services at the same time
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A country that pays its way in the world, saving and investing more to build a truly sustainable economy
George warned that now is the "worst possible time to take our foot off the pedal" on public sector reform, and stressed that Conservative reform is the only way to avoid Labour cuts:
"With reform we can not only live within our means, we can start to tackle Britain’s long standing social problems of welfare dependency, educational under-achievement, crime and persistent poverty. And we can begin to bring the national debt under control."
Read George's speech in full
Find out more about George's regional tour of the West Midlands