Osborne to lay out plans to get Britain's 'economy moving again'

Chancellor George Osborne will today defend his radical spending cuts and announce measures to get Britain’s ‘economy moving again’.

Speaking at the Conservative party conference in Birmingham, Osborne is expected to say Labour’s plan to cut public spending incrementally would lead to ‘market turmoil, the flight of investors, the return of crippling instability, Britain on the brink.’

He will also say his actions are in the ‘national interest’ compared to Ed Miliband’s proposals for the ‘vested interests’ of ‘trade union leaders who put him where he is’.

Osborne will also say that Labour’s plan would increase interest payments to foreign governments, bumping up the £120 million currently being paid daily.

He will insist that ‘there will be no cuts for its own sake, but instead savings to secure our future.’

Plans for cuts could include the scrapping of universal benefits, such as child benefits, to fund long-term welfare problems. Prime minister David Cameron and work and pensions secretary Iain Duncan Smith have both hinted at a cut, with the latter saying benefits being paid to those earning over £50,000 a year was ‘completely bonkers’.

Osborne will stress that the cost of tackling the national debt would have to be borne by every member of society.

He will say: ‘The hard economic choices we make are but a means to an end, and that end is prosperity for all.

‘The foundations of a strong economy don’t rest alone on the decisions of ministers…they come from the most basic human instincts of all. The aspiration to have a better life, to get a better job, to give your children a better future.’