There is a big problem. The problem is the country borrowed too much. We went on a borrowing binge, there was a housing boom. You want to help people de-leverage and deal with those debts over time.
George OsborneWe have management questions. On increasing the basic state pension in line with earnings, because we have made a clear promise and said that the increase in the pension age has to be brought forward, that is an affordable and deliverable commitment from the Conservative Party.
George OsborneWe support the auto-enrolment but we have our doubts about the way the National Pension Scheme is going to be structured.
George Osborne