The Prime Minister, Gordon Brown, spoke to Jon Sopel on the eve of the pre-Budget report.
The prime minister said that to fail to act now would be "both irresponsible and uncaring". He rejected Conservative plans for the economy, calling them a "gospel of despair".
He also dismissed speculation about a General Election in 2009.
He said: "I'm not thinking about that at all and in fact it's almost completely wrong to even consider this."
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The Politics Show Sunday 23 November 2008 at 12:00 GMT on BBC One.
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