Gordon's legacy, Woolworths - London Road, Brighton Dec 27th 2008

The purpose of this budget is to lock in, for Great Britain, an economic stability that can and will endure.

And it is a sign of the stability Britain has already achieved, and a tribute to the dynamism and hard work of the British people, that:

· even after the creation since 1997 of 1.8 million new jobs, 1.3 million in the private sector, and over 100,000 extra businesses;

· today and every working day another 600 new businesses are starting up, 25,000 men and women each and every day are finding new jobs and an additional 10,000 new vacancies are each day being advertised - with new jobs being created at three times the rate of the 1970s, 80s and early 90s.

For decades after 1945, Britain repeatedly relapsed into recession, moving from boom to bust.

But I can report that since 1997 Britain has sustained growth not just through one economic cycle but through two economic cycles, without suffering the old British disease of stop go - with overall growth since 2000 almost twice that of Europe and higher even than that of the United States.

Indeed in the pre budget report I told the House that Britain was enjoying the longest period of sustained economic growth for more than one hundred years.

Mr deputy speaker, I have to apologise to the house.

Having asked the Treasury to investigate in greater historical detail, I can now report that Britain is enjoying its longest period of sustained economic growth for more than 200 years...the longest period of sustained growth since the beginning of the industrial revolution.

Gordon Brown's Budget Statement March 2004
full text here: www.guardian.co.uk/money/2004/mar/17/budget.budget20044