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In a speech to business leaders, David Cameron outlined our plans to repair Britain's economy and stressed a "full-scale recovery" was needed.
He called for a two-pronged approach:
- Immediate action to protect employees, savers, families and homeowners, including a Fair Fuel Stabiliser proper welfare support
- Long-term measures to fix the damage done to our public finances by Mr. Brown's economic mismanagement, and to ensure we always "live within our means"
Amongst the short-term measures he proposed was the introduction of bankruptcy protection for firms, based on the American Chapter 11 scheme.
This, he stressed, would give firms troubled by the credit crunch "breathing space" to restructure their finances and save jobs.
"At a time when we've got economic difficulty and companies may get into these sorts of problems, we ought to be taking action and showing leadership now to try to save those jobs."
In the face of the credit crunch, he noted that the country is facing the prospect of rising unemployment. The country, he stressed, is poorly prepared for rising unemployment and it is therefore imperative that the country acts now. David Cameron set out plans by the Conservative Party in a detailed Employment Plan to help businesses cope with the economic downturn and provide people with the required support to find long – term work.
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