manchester england british finance minister philip hammond defend capitalism route prosperity monday attempt counter opposition labour party increasingly popular vision centrally-controlled economy speech rule conservative party contain two new policy announcements hammond also say government immediate task deal uncertainty citizens businesses result brexit prime minister theresa may grapple deep divisions within party handle brexit talk serious doubt leadership botch bet june snap election lose conservatives majority parliament boost labour hop eventually regain power hammond sideline may election campaign say last week labour party conference show want impose britain world fifth large economy socialist fantasy see cuba venezuela zimbabwe saw labour raw expose sadly become party take hostage clique hard-left extremist infiltrators people despise britain value talk country hammond tell conservative party activists seek put economy center-stage conservatives pitch voters hammond say britain could hope experience rise live standards harness power market economy last week labour leader jeremy corbyn set plan much active role state economy include renationalization key infrastructure high government spend taxation control bank sector opinion poll show labour gain support hammond aim convince voters corbyn would make poor labour leaders say openly proclaim ambition demolish successful modern market economy replace back-to-the-future socialist fantasy hundreds billions extra debt next generation pay word echo may last week issue defense capitalism sign grow concern threat labour pose pro-business orthodoxy underpin british economic policy since margaret thatcher reform 1980s economy break fundamentally strong hammond say also accept lack progress talk britain divorce settlement european union uncertainty future tie weigh businesses process negotiate exit eu create uncertainty investment slow businesses wait clarity hammond say business group welcome hammond defense free market say government need much speech show government strong diagnosis weak action businesses look clear vision urgent delivery leave slim pick say carolyn fairbairn head confederation british industry hammond pledge 400 million pound 535 million additional road rail spend 10 billion pound fund help young britons get property ladder government also announce plan tackle high level student debt limit pay public sector workers must never deny dismiss underlie concern election articulate must listen must respond hammond say add government offer pragmatic solutions improve ordinary people live brexit horizon slow economy bank england hint interest rat could rise may hammond limit room fiscal maneuver british chamber commerce warn public rifts within cabinet undermine business confidence divisions europe help sink conservative premierships thatcher john major david cameron public disagreements cabinet minister recent weeks serve undermine business confidence brexit negotiations also many issue firm need see clear action government close home say chamber director general adam marshall last month rat agency moody downgrade britain credit rat say government plan reduce debt load knock course brexit would harm economy labour say hammond speech monday disappoint 40 waste minutes speak seven waste years tory economic failure country expect see chancellor change course labour finance policy chief john mcdonnell say instead year job continue path predecessor cling old economic model fail many 0.7477 pound capitalism way uk finance minister say challenge labour