Chancellor Rishi Sunak said there are hard choices to come as he aims to balance the books in the wake of the coronavirus crisis.
Mr Sunak said he could not continue to 鈥渂orrow our way out of a hole鈥, speaking at the Conservative party conference.
Mr Sunak said: 鈥淭his Government has never been blind to the difficult trade-offs and decisions coronavirus has forced upon on us.鈥
The changes to the economy cannot be ignored and no chancellor could protect every job or business, Mr Sunak said.
鈥淭he pain of knowing it only grows with each passing day,鈥 he added.
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鈥淪o, I am committing myself to a single priority 鈥 to create, support and extend opportunity to as many people as I can.
鈥淏ecause even if this moment is more difficult than any you have ever faced, even if it feels like there is no hope, I am telling you that there is, and that the overwhelming might of the British state will be placed at your service.鈥
The Chancellor and Prime Minister visited a renewable energy firm in central London together on Monday morning ahead of the speech and Mr Sunak praised Mr Johnson for being right on the 鈥渂ig calls鈥.
But Mr Sunak warned that the 海角视频 was only 鈥減art way through鈥 the coronavirus outbreak, which had already reached 鈥渄eep into our economy and society鈥.
The Government has already committed more than 拢190 billion for people, firms and services but elements of that .
Ministers have already set out plans to help people retrain or acquire new skills and Mr Sunak has extended financial support schemes for firms.
Balancing the books will either require spending cuts or tax rises in the future and Mr Sunak acknowledged there would have to be action in the medium term.
鈥淲e have a sacred responsibility to future generations to leave the public finances strong, and through careful management of our economy, this Conservative Government will always balance the books,鈥 he said.
鈥淚f instead we argue there is no limit on what we can spend, that we can simply borrow our way out of any hole, what is the point in us?
鈥淚 have never pretended there is some easy cost-free answer. Hard choices are everywhere.鈥
Meanwhile, the Chancellor has defended his Eat Out to Help Out scheme which sought to encourage diners to return to restaurants and pubs with a state-backed discount.
At the weekend, Mr Johnson suggested the incentive 鈥渕ay have helped to spread the virus鈥 and that its impact needed to be counteracted, with the country facing a second surge in positive Covid-19 cases.
