By Marcus Leach

'Britain is turning a corner, but we still have a long way to go' was the message from Chancellor George Osborne as he spoke at the annual conference of the Institute of Directors a the Royal Albert Hall.

Osborne, who spoke at the IoD conference in the same venue almost four years ago, drew comparison to the fact that back then there was a palpable fear in the room. A fear that the UK was sinking, and that the business world wasn't sure if there was a way out.

"It turns out that we did have the ability to overcome that fear," he said. "Today I detect here a different mood, one of cautious optimism, although with an emphasis on cautious.

"The British economy is looking better, it is growing in all sectors, 1.4 million new jobs have been created by British businesses.

"Britain is turning a corner but we have a long way to go. Unemployment and our deficit are both still too high."

There have been strong objections to a lot of what Mr Osborne has been doing in his position ads Chancellor. However, as he pointed out the plan has started to work, as we are seeing the economy recover and in a sustainable manner.

"My message to you today is that it would be a mistake if we think we can ease up in repairing the economy. I am more determined than ever to see through our plan for recovery," Osborne added.

"We wouldn't be where we are today if it wasn't for the tough line the government took in righting the wrongs. You have my unwavering commitment that we will see the plan through."

Join us on
Follow @freshbusiness