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From inside the conference hall via an iPhone:

1200: The speech may well include another big announcement. Our guess: something on council tax.

1206: Great video summarizing Tory policies before GO speaks.  Will upload later on to PlayPolitical.

1208: GO promises to defend capitalism during this time.

1209: Not every problem can be blamed on Labour but Brown sat in Downing Street when regulation failed and debt soared. 

1210: Brown borrowed more than households and hid more borrowing off balance sheet than the banks.

1211: The party is over.

1214: Ultimately the bankers are responsible for these problems. I am not an ideologue who thinks that the market can do no wrong. Bankers will be held to account if they pay themselves big dividends when they should be rebuilding their balance sheets.

1216: Unlike Labour we are not bedazzled by big money. We were the first to propose tax on non doms. We don’t oppose restrictions on short selling. It was the Conservatives who three years ago published a major report on debt.

1218: We will fight next Election on reducing borrowing.

1220: The cupboard is bare. Tax revenues have collapsed. Unemployment is rising again. Labour have done it again.

1223: Gordon Brown is spending like there is no tomorrow. For him there may be no tomorrow. The only Golden Rule is that you can’t trust Labour with the public finances.

1227: No upfront tax cuts paid for by even more borrowing.

1228: Conservatives will freeze council tax for two years if local councils cooperate on making savings.

4pm: Authorised text of speech.

55 comments for: George Osborne speech

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