George Osborne’s 2013 spending review speech

Mr Speaker, this Coalition came into office with a commitment to address - with firmness and resolve – one of the biggest economic crises of the post-war era. The action we have taken - together with the British people - has:

• Brought the deficit down by a third;
• Helped a record number of people into work; and
• Taken our economy back from the brink of bankruptcy.

  And it allows us to say that, while recovery from such a deep recession can never be straightforward, Britain is moving out of intensive care - and from rescue to recovery.

  Today, we announce the latest action to secure the recovery.