Alistair Darling MP, Chancellor of the Exchequer, has set out the Labour Government’s priorities for the British economy in the annual Mansion House speech.

He said: "The twin global shocks of rising commodity prices and the credit crunch have led to growth forecasts for advanced economies being halved in the last year.

"Earlier this month, we again saw the OECD revising down their growth forecasts for economies around the world for both this year and next.

"No country can escape these consequences.

"Times are tough. It will take time for these global difficulties to work through.

"But our economy will continue to grow. Independent forecasters expect UK inflation to fall back next year. Employment is at a record high. Many order books are full.

"British business is competing and winning all over the world.

"Our economy is flexible and resilient."

The Labour Government’s aim is to build a Britain of lasting prosperity and fairness for hard-working families.

After a decade of historically low inflation and interest rates, the Labour Government can be trusted to see Britain through this tough economic time.

Alistair Darling would like to hear what you have to say about the current worldwide economic situation. He will be available to answer your questions in an exclusive webchat video which will be posted on our YouTube channel.

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