Britain is a more prosperous and fairer country than the one Labour inherited in 1997. The tough decisions we have taken - such as Bank of England independence - have provided Britain with a platform of stability with low inflation, low interest rates and record levels of employment. Living standards have never been better. The number in work has never been higher. And the opportunities for work and higher living standards have been widely shared. Britain's economy has become more resilient and is better placed to cope with the current economic and financial turbulence.

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