George Osborne's New Year speech promises more austerity

In 2014, George Osborne highlighted the UK's economic challenges, emphasizing the need for rebalancing the economy by boosting industrial output rather than relying on consumer spending. Despite some positive signs, significant issues remain, prompting further government spending cuts, particularly in welfare. These cuts are expected to impact local governments, leading to more austerity measures. The overall message is to prepare for continued economic hardship with the hope of eventual recovery.

What was the main theme of George Osborne's speech in 2014?

• Celebration of past economic successes

• Optimism about immediate economic recovery

• Pessimism and the need for addressing economic issues

• Focus on international relations

What is the UK trying to achieve by focusing on manufacturing?

• Expand the service sector

• Increase consumer spending

• Reduce reliance on debt

• Decrease exports

Which company was mentioned as an example of foreign investment in the UK?

• Nissan

• MG Rover

• Ford

• Toyota

What is the government's plan regarding spending cuts?

• Maintain current spending levels

• Increase taxes instead of cutting spending

• Cut £25 billion, with £12 billion from welfare

• Increase spending on welfare

What is the expected impact of the proposed cuts on local government?

• Increase in local government funding

• No impact on local government

• End of local government as known

• Strengthening of local government