[applause] >> the chancellor of the exchequer, the right honorable george osborne. [applause] >> my lord mayor, ladies and gentlemen, it is truly, link to speak here tonight conscious of the long line of distinguished chancellors who have preceded me. and i have been looking back at some of their speeches for inspiration, and i was particularly struck by what austen chamberlain said here at the mansion house, "low near -- lord mayor, a lot of the chancellor of the exchequer is not altogether a happy one. he has few friends, and that few he has are those of whom he should most beware, for their approach is the most insidious, and their indignation if he refused their claims is the most marked and the most violent." and then i realized he was the lord chancellor and -- he was the chancellor in the last liberal conservative coalition. [laughter] some of made comparisons with another former chancellor, lord randolph churchill, who took office in 1986 when he was 37 years old. even i think that is a bit young. [laughter] but he offered his resignation to his prime minist

. >> next, remarks by the british finance minister, george osborn. tuesday, he delivered a statement to the house of commons on his butt to report. this is one hour 10 minutes. mr. chancellor of the exchequer. >> mr. deputy speaker, -- >> this emergency budget deals decisively with our country's record debts. it pays for the past, and it plans for the future. it supports a strong, enterprise-led recovery, it rewards work and it protects the most vulnerable in our society. yes, it is tough, but it is also fair. this is an emergency budget, so let me speak plainly about the emergency that we face. the coalition government has inherited from their predecessors the largest budget deficit of any economy in europe, with the single exception of ireland. one pound in every four we spend is being borrowed. what we have not inherited from our predecessors is a credible plan to reduce their record deficit-this at the very moment when fear about the sustainability of sovereign debt is the greatest risk to the recovery of european economies. questions that were a

george osborn says that queen elizabeth has a set with a freeze on financial support and that the government will impose a two-year wage freeze on most civil servants. the israeli naval blockade of the gaza strip could face a test next week. the country will send eight ships the gaza with 1,100 tons of relief supplies. finally, a group of seventh graders in california has discovered a cave on mars. the 16 students from the evergreen middle school are participating in the mars student imaging program at the mars space flight facility at arizona state university, allowing students to frame research question and commission cameras to take images answer the questions. those are some of the latest headlines on c-span radio. >> if you cannot mmke up your mind based on what you have read, what you have heard and your questions and answers, you do not deserve to be a part of the senate judiciary committee. >> take a look back at the speeches and previous confirmation hearings of supreme court judges. the c-span video library, online with every program since 1987. >> "washington journal" continues. h

. >> george osborn unveiled a package of spending cuts and tax increases to balance the government budget. among the proposals is an increase in the sales tax from 17.5% to 20%. you also hear a response from the acting labour party leader, harriet harman. this is an hour and 10 minutes. >> at the end of the speech, copies will be available. it is not appropriate to intervene. chancellor of the exchequer. >> mr. deputy speaker, this emergency package deals with our record debt. it pays for the past and plans for the future. it supports a strong enterprise- led recovery. it rewards work and protect the most vulnerable in our society. yes, it is tough, but it is also fair. this is an emergency budget, so let me speak plainly about the emergencies with a spirit -- emergencies we face. the coalition government has faced the largest deficit of any economy in europe with the exception of ireland. 1 pound out of every 4 pounds we stand is thorough. when we have not inherited is an incredible -- a credible plan to reduce this, this at the moment when the fear of sovereign debt is the greatest risk

this weekend in south korea, george osborn received backing for the actions we have taken. people and other governments around the world or -- have to the dangers of dealing with their debts. britain has to be part of the international mainstream as well. we are clear about what -- but we must do. we have been clear about how we must do it. as the deputy prime minister has said, in a way that affects our most vulnerable, in a way that unites the country rather than divides it, in a way that demonstrates we are all in this together. we should be clear, too, that these problems do not disappear overnight. i think people understand that the debt crisis is the legacy of the last government. exactly the same applies to the action we will need to take to deal with this. now we have had a chance to look at what really has been going on, i want to tell the the scale of the problem that we face. we have known for a long time that our debts are huge. last year, our budget deficit was the largest in our peacetime history. this year, according to the previous government forecasts, it i

george blackwell, frank w. butler, wayne campbell, johnny cruise, james l. keys, terry mcmillan, williams mccain, charles osborne, james prayeder, and mack thomas. it's been an honor to bring this resolution honoring them to the house and i strongly urge my colleagues to add their neams to the roster of those recognizing these american sailors. with that i yield back the balance of my time. mr. buyer: reclaiming my time. i thank the gentleman for bringing this. i also want to recognize hoosiers who also shared danger of combat above the rice patties and forest of the mekong delta. that is those who served with hal-3 from indiana. j. howard cook, rick hodge, melvin howl, thomas h. jackson, robert l. redmond, and jay wakeland. madam speaker, i ask unanimous consent to revise and extend my remarks. the speaker pro tempore: without objection. mr. buyer: in support of house resolution 1228. the speaker pro tempore: without objection. mr. buyer:with that i yield back the balance of my time. the speaker pro tempore: the gentleman from indiana yields back the balance of his time. the gentleman from california is recogni

specialist osborne was assigned to the 101 airborne out of kentucky. son, husband, friend and sold year from lake george, he will be missed from his community. my heart goes out to %is wife and parents. this true american hero made the sacrifice in defense of his nation and we owe him our eternal gratitude. he was just 27 years old, volunteered for the position of gunner because in the words of his sister, he was a proud soldier and believed in what he was doing.%% he was willing to give his life in service to all of us and to the country that he loved. the expression of our gratitude for his sacrifice to our nation is beyond words. thissnation has been built by great men and women like ben osborne and we must never forget the true feems we hold dear. everyone is reminded the hardships, suffering, sacrifices of our armed forces.+ we must strive to be more like ben and dedicate ourselves to these worthy ideals. on behalf of a grateful nation, our thoughts and prayers are with the entire osborne family during this difficult time. thh speaker pro ttmpore: the gentleman yields back the balance of his time.