George Osborne Plans to Stand for Head of IMF Role

George Osborne, the former Chancellor of the Exchequer, is said to be considering standing as the next Head of the International Monetary Fund (IMF), which would make him the first British holder of the role. The current occupant of the job is Christine Lagarde, who is standing down later this year.

The Telegraph reported that sources close to Osborne, who is currently the editor of the Evening Standard, said:

“While it might be tricky for any UK candidate to get the job [given Brexit], George is probably the only Brit with the international reputation to pull it off.”

Osborne, who has recently backed Boris Johnson for the leadership of the Conservative Party, may face a challenge from Mark Carney, the outgoing Governor of the Bank of England.

George Osborne Urges Government to Fund HS3 for Northern England

George Osborne, the former Chancellor of the Exchequer, has urged the Government to fund an HS3 rail system to help boost the northern economy. Osborne, who has now left Parliament and is the editor of the Evening Standard, said that the investment would help to “transform the northern economy”.

Osborne said in the article for the Financial Times:

“Far be it from me to offer advice to the Prime Minister on how to relaunch her premiership this autumn, but making this big commitment to the north at the Conservative conference in Manchester would not be a bad place to start”.

The proposed HS3 link would potentially connect Liverpool, Manchester, Leeds, Sheffield and Hull, with some preparatory work having already taken place to look at the viability of the project.

Tatton Conservative Association Back George Osborne’s New Evening Standard Role

Tatton Conservative Association have given their backing to George Osborne, the former Chancellor of the Exchequer, in his new role as editor of the London Evening Standard.

The Guardian newspaper reported that Patty Goddard, the Association President, said:

“Everybody in the room was fully supportive of George, our MP, and he got a huge round of applause when he’d finished speaking. I was George’s chairman for four years and I know how hard this guy can work.

He’s got amazing stamina and he never ceased his duty to Tatton while he was chancellor of the exchequer, and I’ve no reason to believe that will change when he’s editing a newspaper four mornings a week. We all feel that he’s got the capability and the ability to do that, and we’ve every confidence in him.

It was so positive. I feel so pleased it happened that way. We thought there might be some problems, but none whatsoever. We did ask the questions and he answered them satisfactorily”.

Clive Lewis, the Labour MP for Norwich South, criticised the role when it was announced and said:

“There are real questions to answer, but Osborne has brazenly flouted the rules by applying for, accepting and announcing a new job before the ethics watchdog could investigate and sanction it. I would urge them to refuse permission for him to take up the role, at least until there is time to properly consider these questions”.

Osborne said in the House of Commons earlier in the week:

“In my view, Mr Speaker, this parliament is enhanced when we have people from all walks of life and different experience in the debate and when people who have held senior ministerial office continue to contribute to the debate”.

George Osborne Says that the British Population Didn’t Vote for Hard Brexit

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George Osborne, the former Chancellor of the Exchequer, has said that the British people didn’t vote for a Hard Brexit in the 2016 EU referendum, and that there is no mandate for such a policy.

Speaking in Chicago in his first major speech since leaving office he said:

“Above all, we need to resist the false logic that leads from exiting the EU to exiting all forms of European co-operation – and that values the dangerous purity of splendid isolation over the practical necessity of co-operation in the real world.

Brexit won a majority. Hard Brexit did not.

The mainstream majority in our country do not want to be governed from the extremes.

The same principles of co-operation and engagement that drives Britain’s relationship with Europe should guide our approach to the global challenges we all face”.

Theresa May Sacks George Osborne and Michael Gove

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Downing Street has confirmed that Theresa May, the new Prime Minister, has dismissed George Osborne and Michael Gove from the Cabinet. They had held the roles of Chancellor of the Exchequer and Justice Secretary. Michael Gove had been one of the party leadership contenders.

Chancellor Abandons Plan to Return to Surplus by 2020

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George Osborne, the Chancellor of the Exchequer, has announced that the Government has abandoned its aim to return to financial surplus by 2020. His decision comes after the decision in the referendum for the UK to leave the EU, which Osborne said was causing shocks to the economy.

Osborne said:

“The referendum is expected to produce a significant negative economic shock to our economy. How we respond will determine the impact on jobs and growth”.

Speaking to the Greater Manchester Chambers of Commerce, he added:

“The government must provide fiscal credibility, so we will continue to be tough on the deficit, but we must be realistic about achieving a surplus by the end of this decade. This is precisely the flexibility that our rules provide for”.

George Osborne Confirms He Will not be Leadership Candidate

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George Osborne, the Chancellor of the Exchequer, has confirmed that he will not be a candidate in the forthcoming Conservative leadership contest. The contest was caused by the resignation of David Cameron, the Prime Minister, following the UK’s vote to leave the EU.

Osborne, writing in the Times, said:

“It isn’t in my nature to do things by half-measure, and I fought the referendum campaign with everything I’ve got. I believed in this cause and fought hard for it. So it is clear that while I completely accept the result, I am not the person to provide the unity my party needs at this time”.

Iain Duncan Smith Resigns as Work and Pensions Secretary

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Iain Duncan Smith, the Work and Pensions Secretary, has resigned following a disagreement with George Osborne, the Chancellor of the Exchequer.

Duncan Smith said in a statement:

“I am unable to watch passively whilst certain policies are enacted in order to meet the fiscal self-imposed restraints that I believe are more and more perceived as distinctly political rather than in the national economic interest,” he said in his resignation letter.

Too often my team and I have been pressured in the immediate run up to a budget or fiscal event to deliver yet more reductions to the working-age benefit bill.

There has been too much emphasis on money-saving exercises and not enough awareness from the Treasury, in particular, that the government’s vision of a new welfare-to-work system could not be repeatedly salami-sliced.

It is therefore with enormous regret that I have decided to resign”.

Andrew Adonis Welcomes Infrastructure Investment

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Andrew Adonis, the interim Chairman of the National Infrastructure Commission and former Labour Secretary of State for Transport, has welcomed the Chancellor’s investment announcement in today’s budget.

George Osborne, the Chancellor of the Exchequer, announced £430 million in support of recommendations made by the National Infrastructure Commission.

Adonis said:

“The National Infrastructure Commission was established to transform the way we plan and deliver major infrastructure projects. I am glad that the government has accepted our first three reports.

Putting HS3 at the heart of a new High Speed North can help bring our great Northern cities together and fire growth and Crossrail 2 is vital to keep more than 10 million Londoners moving in the 2030s. A Smart Power revolution across our energy sector – principally built around three innovations, Interconnection, Storage, and Demand Flexibility – could save consumers up to £8 billion a year by 2030, help the UK meet its 2050 carbon targets, and secure the UK’s energy supply for generations”.

George Osborne Makes 2016 Budget Speech

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George Osborne, the Chancellor of the Exchequer, has today made his 2016 Budget Speech in the House of Commons. Osborne announced that growth forecasts were being cut back and he also warned of the dangers of the UK leaving the European Union.

New spending cuts were announced to help balance the books and the Chancellor confirmed that the annual budget deficit would be cleared by 2020. There will also be a new tax on sugar drinks and all schools will be required to become academies by 2022.

Concluding his speech the Chancellor said:

“Five years ago, we set out a long-term plan because we wanted to make sure that Britain never again was powerless in the face of global storms. We said then that we would do the hard work to take control of our destiny and put our own house in order. Five years later, our economy is strong, but the storm clouds are gathering again. Our response to this new challenge is clear. We act now so we do not pay later.

This is our Conservative Budget. One that reaches a surplus so the next generation does not have to pay our debts. One that reforms our tax system so the next generation inherits a strong economy. One that takes the imaginative steps so the next generation is better educated. One that takes bold decisions so that our children grow up fit and healthy.

This is a Budget that gets the investors investing, savers saving, businesses doing business, so that we build for working people a low-tax, enterprise Britain, secure at home, strong in the world. I commend to the House a Budget that puts the next generation first”.

Jeremy Corbyn, the Leader of the Opposition, said in response to the budget:

“The Budget the Chancellor has just delivered is actually the culmination of six years of his failures. It is a recovery built on sand and a Budget of failure. The Chancellor has failed on the budget deficit, failed on debt, failed on investment, failed on productivity, failed on the trade deficit, failed on the welfare cap and failed to tackle inequality in this country. Today he has announced that growth is revised down last year, this year and every year he has forecast. Business investment is revised down and Government investment is revised down”.

Tim Farron, the Leader of the Liberal Democrats, said:

“This is the Chancellor’s sweet and sour Budget. He makes bold claims that never materialise, masking real pain. There is no serious immediate investment in transport, broadband, housing or green energy, just far-off plans that exist only on a Whitehall spreadsheet—plans written by political advisers no doubt high-fiving each other in the boardroom over grand announcements that will never actually materialise, ignorant of their impact on real people.

The Chancellor talks about fixing the roof when the sun is shining. There are 0% interest rates. The sun is shining yet he chooses to knock holes in the roof. This would be the moment to be ambitious and to invest in the infrastructure for the long term economic future of our country. On the one side, we have a Government choosing to attack the very fabric of our communities, and sadly, on the other, an Opposition too focused on themselves to be able to stand up for the real people in this country. We owe our constituents, and we owe Britain, better than this. It is time that we had a Government who showed a little more respect to the people in this country who care for us, who teach our children, and who keep us safe. Britain deserves better”.