Post date: Sep 02, 2012 11:57:59 AM
Speaking on Sunday's political programme on the British television channel BBC, Osborne once again defended his hard line austerity programme.
"Jobs are being created, 900,000 jobs in the private sector. But Britain's economic problems are deep rooted, built up over many years, we have a very unbalanced economy. It is healing but there is not some easy road. Believe you me, if there was a quick fix or an easy road then I would be the first on. There isn't. It is a hard road to recovery but there is no alternative easy road," UK Finance Minister George Osborne said.
British Finance Minister George Osborne says UK economy is healing but continues to have enormous, deep-seated problems.
LONDON, ENGLAND, UNITED KINGDOM (SEPTEMBER 2, 2012) (BBC) - British finance minister George Osborne said on Sunday (September 2) that the country's recession-hit economy was healing, but that the government needed to do more and fast to promote growth.
While the Chancellor was positive about the UK's economic future, he also acknowledged the difficulties it continues to face. He said the current international economic climate is an ongoing concern.
"I think this Government has earnt confidence around the world by confronting those problems. Of course I would like the recovery to be strong, I'm the first person who would like the recovery to be stronger. But we are overcoming enormous, deep-seated problems in our own economy, we've got a pretty difficult international back drop against which to be doing it," Osborne said.
The Finance Minister's defence of his economic measures comes amid speculation he may be replaced in a looming Government shake-up.
Prime Minister David Cameron is expected to reshuffle his cabinet in September, with the hope fresh faces will appease his party's restive right and reboot a government half way through a recession-hit term.
Britain's dismal economic performance has triggered calls by some for Cameron to replace Osborne with Foreign Secretary William Hague.
But insiders say he is more likely to focus on filling more junior posts with supporters and figures popular with grassroots members of his Conservative party.
Osborne wouldn't be drawn on the expected reshuffle, but said the public should have confidence in the treasury.
"You can ask David Cameron about the reshuffle, but I am absolutely clear that the economic team in the Government, which starts with the First Lord of the Treasury, is totally focused over the coming months of getting the economy moving," Osborne said.
Osborne also responded to results of a recent poll that found nearly half of British voters believe he should lose his job as Finance Minister.
He made light of being labeled unpopular.
"I am absolutely focused on this and I feel a very heavy responsibility to get this job right, to do what I can, make sure the Government does what it can to get the economy going. You know, if I was trying to win the popularity stakes there are some easy things I could do. I could spend a lot more money, that might make me popular in the short term. It's not the right decision and I think in a difficult economic environment, it's not surprising that the Chancellor is not the most popular member of the Government. It would be somewhat surprising if he was," Osborne said.
Prime Minister David Cameron is widely expected to keep Osborne in his post because he is his closest cabinet ally and seen to play an indispensable role in the day-to-day running of the government.