Chancellor repudiates 1991 declaration by Norman Lamont that unemployment was a price worth paying to bring down inflation
George Osborne has tried to bury one of the most toxic Tory legacies from the Thatcher and Major eras by pledging to create full employment in Britain.
In a direct repudiation of the famous declaration by Norman Lamont that unemployment was a price "well worth paying" to bring down inflation, the chancellor said that "mass unemployment is never a price worth paying".