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Hammond throws down gauntlet to Corbyn and says 'bring it on'

Hammond throws down gauntlet to Corbyn and says 'bring it on'

Ameet spoke at Conservative Party Conference this week on Conservative Party values.

The whole concept of capitalism has come under scrutiny in the United Kingdom, with support rising for the opposition Labour Party's more left-wing views.

Hammond's speech marks the latest effort by the Conservative government -- much criticized past year for taking a swipe at global elites-to dominate the economic and business argument after Labour, led by Jeremy Corbyn, described itself as a "government in waiting" at its own party conference last week.

Mr Hammond will add: "We are the party of progress". And the wealth that a strong market economy creates which, in the end, pays for our public services.

Speaking at the conference, the UK Chancellor of the Exchequer Philip Hammond defended capitalism and said that "the process of negotiating our exit from the European Union has created uncertainty so investment has slowed as businesses wait for clarity".

Picking up on his theme from earlier in the day, Hammond called on businesses to back the government in its aim to defend the free market.

Young people are taking on a disgusting amount of debt, and many don't even know what they are getting from it.

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"While we will dismiss Labour's solutions to them, we must never dismiss the underlying concerns that the election articulated".

But with Brexit on the horizon, a slowing economy and the Bank of England hinting that interest rates could rise, May and Hammond have limited room for fiscal maneuver.

The chancellor told British Chambers of Commerce Director-General Adam Marshall that while he understood businesses' need for clarity over Brexit, they should in turn do their bit to help him show that's precisely what is holding investment back.

Last month rating agency Moody's downgraded Britain's credit rating, saying government plans to reduce its debt load had been knocked off course and that Brexit would harm the economy.

Mr Hammond, who campaigned for Remain in the 2016 referendum, said he respected the result and accepted the Government's job was now to implement the decision of the voters.

For Labour, Shadow Chancellor John McDonnell said: "After seven wasted years of Tory economic failure. he is continuing down the path of his predecessor and clinging to an old economic model that fails the many".

Healey also used the HuffPost piece to reiterate other Labour policies for the private rental sector, including more landlord licensing, unspecified "new minimum standards" and the issuing of three year tenancy terms as standard: these were already contained in Labour June 2017 General Election manifesto.