Former Conservative chancellor Norman Lamont has told ITV News he is "not in any way uncomfortable" with George Osborne's comments that mass unemployment would never be a price worth paying.
Lord Lamont famously said in 1991, "Rising unemployment and the recession have been the price that we've had to pay in order to get inflation down, but that is a price worth paying".
The Conservative government won't seek to lower the unemployment rate by creating "artificial" public sector jobs, which ended up destroying employment as public spending spiraled out of control, says George Osborne.
"You end up with more people unemployed instead of less. Then the politicians who make these guarantees get into a panic. So unemployed people are pushed on to sickness benefits to hide the real numbers," he said.
George Osborne has stated that it's his ambition for the UK to have the highest employment rate than any G7 country.
He also stated in his recent speech that the Conservatives are aiming for "full employment" in Britain.
Today have set an ambition for the UK to have the highest employment rate in G7- best place to create a job and to get a job
This week sees biggest personal & business tax cuts for 2 decades. Part of our plan to build an economy that supports full employment
George Osborne stated that it is his commitment to fight for full employment in Britain, during a speech today.
When Winston Churchill was PM; they set the first commitment to full employment.
(Yet) attempts past and present by governments "guarantee" a job to every person are doomed to fail.
There is no reason why Britain shouldn't aim to have the highest employment rate of any of the world’s leading economies.
To have more people working than any of the other countries in the G7 group.
That’s my ambition.
In his speech Osborne said he wants the UK to be the best place in the world to "create, find and keep jobs" as well as improving schools and reforming welfare.
Cutting tax for businesses as well as "building new roads and railways", with an emphasis on becoming a "world leader in science".
That is what I mean when I say that we are going for Full Employment.
George Osborne has stated in a speech that a Conservative government will "work towards full employment" for Britain, which includes cutting taxes for businesses and hard working people.
Osborne's "full employment" commitment actually means UK having the "highest employment rate of any of the major economies in the world"
Tory Chancellor commits to "working towards full employment"
British workers and businesses are to benefit from the "biggest tax cuts" to personal and business taxes in "two decades", says George Osborne.
He also said the benefit system will be more affordable and fairer, with Britain creating jobs faster than almost any country in the world.
The Unite union has said it will consider strike action if there are compulsory redundancies included in the 1,600 job losses.
First the Government sells off Royal Mail on the cheap and now the newly privatised service is ruthlessly sacrificing jobs.
We do not believe that it's a coincidence that this announcement has been made just before the company prepares to announce its first full set of accounts since privatisation.
For all that Royal Mail managers have been through they do not deserve to be treated in this way.
Unite is demanding a commitment to no compulsory redundancies on fair terms and an effective method for redeployment within the restructured organisation.
If Royal Mail refuse, we will have no alternative than to consider a ballot for industrial action.
Job losses at Royal Mail will be mostly felt at the Group’s operational and head office managerial level.
The company said there would be: "no impact from this initiative on frontline employees, including postmen and women, or the services Royal Mail provides to its customers."
Royal Mail has said that it is starting consultations with unions to cut 1,600 jobs in a move which the company hopes will save £50 million.
In a statement Royal Mail said that around 300 "new or enhanced" roles would be created meaning a loss of 1,300 jobs.