Osborne sets out plans for a more balanced economy

Shadow chancellor says economy is unbalanced under Gordon Brown

Today, in a speech at the British Museum, shadow chancellor George Osborne said the economy had been based on a public spending boom, an overblown banking sector and a house price bubble, and that new ways of generating economic output are needed.

He set out eight benchmarks for Britain:

- ensure macroeconomic stability; create a more balanced economy; get Britain working; make Britain open for business; ensure the whole country shares in rising prosperity; reform public services to create