Cameron calls on UK to copy post-war Germany
Updated on 28 May 2010
David Cameron today called on the UK to take inspiration from the recovery made by post-war Germany as he vowed to "transform" the UK's economy by cutting back on tax laws and supporting business.
The prime minister pledged to "transform" Britain's economy today, as he gave his first major speech since winning power.
Speaking in Shipley, West Yorkshire, Mr Cameron said the new government would seek to liberalise, rebalance and support British business.
The prime minister said he wanted the UK to have "one of the most competitive tax systems in the world" as he vowed to simplify and repeal financial regulations.
He said no new regulations would be introduced without an older law being scrapped to make way for it.
In a bid to "rebalance" the UK's economy away from the dominance of London and the South East, he said the country's biggest cities would be given elected mayors to drive through reform and regeneration.
While he also called for British business to make "the next generation the most dynamic and entrepreneurial in our history", as he promised to overhaul the banks to make sure they leant money to UK firms.
Amid somewhat emotive comparisons of Britain's financial state to post-war Germany and South Korea, Mr Cameron said: "I passionately believe we don't have to accept things the way they are.
"Imagine if Germany had given up after the Second World War, leaving the bombed-out factories on the Ruhr lying dormant.
"Imagine if South Korea, after years of war, surrendered to its fate as an economic backwater in the 1950s. Imagine if Margaret Thatcher had seen the British economy in the 70s, wracked by strikes and deep in debt, and decided just to manage our decline.
"They said 'no, we can transform our economy' – and they did, turning war-ravaged regions and strike ruined countries into economic power houses. So this is my message today.
"There is no such thing as economic destiny. We can transform our economy here. We can turn this around. We make the future ourselves.
"Instead of controlling business, we will free enterprise to compete. Instead of acting with short-term initiatives we will think long-term about the modern support our economy needs.
"Instead of tolerating economic apartheid, we will give local people the power and the freedom to build success from the bottom up. That is our coalition strategy for growth.
"Some people have said that our coming together will feature in the history books. But I don’t want this to be an historic government because we are a coalition, I want us to be an historic government because of what this coalition achieves.
"And if we keep to the clarity of this vision, if we stick to this determined plan then I truly believe we can transform our economy."
