00:00These riots didn't happen in a vacuum. They exposed the state of our country,
00:06revealed a deeply unhealthy society, the cracks in our foundations laid bare,
00:13weakened by a decade of division and decline, infected by a spiral of populism which fed
00:21off cycles of failure of the last government. That's what we've inherited. Not just an
00:29economic black hole, a societal black hole. And that's why we have to take action and do
00:37things differently. And part of that is being honest with people about the choices that we face,
00:47how tough this will be. And frankly, things will get worse before they get better.
00:56I will be honest with you, there is a budget coming in October and it's going to be painful.
01:04We have no other choice given the situation that we're in.
01:09Those with the broadest shoulders should bear the heavier burden.
