This government will fight for the best possible deal for British business and British workers, the best possible access to European markets for our manufacturing and services industries, and the best possible freedoms for our entrepreneurs and our global exporters. The British people elected us on a promise to restore fiscal discipline and that is exactly what we are going to do.
But we will do it in a pragmatic way, in a way that reflects the new circumstances we face. The fiscal policies that George Osbourne set out were the right ones for that time. But when times change, we must change with them. So we will no longer target a surplus at the end of this Parliament.