Cameron: We can't just flick a switch

Extracts from prime minister David Cameron's speech to the World Economic Forum in Davos, Switzerland, today:

"Think of where we need to go: an economy based not on consumption and debt but on savings and investment; not on government spending but on entrepreneurial dynamism; not on one industry in one corner of the country but on all our businesses in all our regions, with a new emphasis on manufacturing, exports and trade.

"To get there isn't easy. We can't just flick on the switch of government spending or pump the bubble back up.

"Making this transformation - and it is a transformation - requires painstaking work and it takes time. It involves paying down billions of pounds of debt. New plants and factories need to be built. New products designed. New innovations taken to market. New businesses nurtured.

"It's going to be tough - but we must see it through. The scale of the task is immense, so we need to be bold in order to build this economy of the future. The British people know these things. They understand there are no short-cuts to a better future."


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