The government now faces the difficult challenge of deciding how far and how fast it can move towards the reform of the state pension system we proposed, in the light of other claims on public expenditure.

The government now faces the difficult decision of how far and how fast it can move to reform of the state pension.

Budget reform is the gateway challenge that must be met before we can actually get back to fiscal responsibility.

The market has already made progress in many areas of the reform program. The challenge now is to build on this momentum and deliver the real changes needed to reform the market. This will not only ensure that we meet the FSA contract certainty deadline, but will also enable market firms to realize the huge process and service benefits of a modern, efficient market.

This [mining sector reform] must be executed in a manner that is beneficial to mining companies as well as government, particularly at this delicate stage where we want to be perceived as willing to be part and parcel of the global community.

He believes we need to reform government spending.