Britain 'walking tall again' due to foreign investment, says George Osborne

Britain is starting to “walk tall in the world again” with foreign companies creating jobs by stepping up investment in the country, George Osborne will declare today.

In a speech in Essex, the Chancellor will also hail a series of tax changes which come into force this week, including the increase in the income tax personal allowance.

In an attempt to turn put Labour on the defensive, he will argue that changes to taxes and benefits, which also are about to take effect, will change the lives of millions of people.

“Whether you are working or looking for work, whether you’re starting your own business or hiring someone new - these changes will help. And they are part of our long term plan to build a more resilient economy and create jobs,” he will say.

The Chancellor will claim: “Stability is returning and with it, confidence. Companies are moving here, investment is happening here. Britain is starting to walk tall in the world again. “

Mr Osborne will also announce that new schemes imposing tougher sanctions on jobseeksers will begin to be rolled out from Monday.