Number 10: On the Budget

Today's Budget builds on the action we have already taken to save the banks, protect savers and to restore lending. We have taken steps to boost the economy by putting money in people's pockets, bringing forward investment and supporting businesses and jobs.

Our priority now is to continue to deliver real help now for families and businesses to help them through the downturn and to make sure that people, especially young people, get quickly back into work.

Secondly, we will support investment in the growth industries of the future on which Britain's success will be built. You can only invest and grow your way out of recession; you cannot cut your way out of recession. We will invest smartly, targeting our resources at those industries and sectors best placed to provide the jobs of the future - the very foundation of our future growth and prosperity.

The action we've already taken will protect half a million jobs in Britain and at the heart of this budget is a commitment to stop long term unemployment taking hold - especially among young people. That's why we are guaranteeing that everyone under the age of 25 who has been out of work for 12 months will be offered a job. In the 1980s a whole generation of young people were lost to work. We must make sure that this never happens again.

Pensioners are also feeling the impact of the economic downturn. So we have increased help - a higher winter fuel payment, worth £250 for over 60s and £400 for the over eighties, for another year. Many pensioners rely on their savings for extra income. So we have increased the help for those in retirement with modest savings through pension credit. And we are increasing the cash limit for tax-free ISAs.

We're helping business too because its business that creates jobs and wealth. So there is targeted support for business, to help them now and prepare for the recovery.

We want to help them build on our strengths, investing in the green and growth industries of the future, creating new jobs and helping secure our country's success.

Despite all the difficulties, I am determined we will get through this recession and confident that - together - we can go forward and build a better Britain.

Gordon Brown