Video: George Osborne: we've got to get behind the private sector Speaking in the House of Commons, Mr Osborne told MPs: "The manufacturing sector halved as a share of the British economy when Labour was in office, halved as a share of the British economy. In fact, it was fastest decline in British manufacturing in British history, when they were in office. The steps we have taken to support manufacturers, to help with investment allowances as I've announced, to make sure they have access to those growth parts of the world like China and India, this is all part of rebalancing and rebuilding the British economy. I was in the West Midlands a couple of weeks ago. There have been 67,000 new private sector jobs in that one region alone and I mention that region because private sector employment actually fell during the boom years under the last Labour Government. We've got to get behind the private sector, we've got to get behind business and that is exactly what this Government is doing.