I've got to be honest with you, there's no magic wand that makes the economic problems that were years in the making disappear overnight.

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It's not a case of me coming in and waving a magic wand but it's down to me to solve it.

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There's simply not enough wealth in the community of the rich to erase this country's problems by waving some magic tax wand.

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Tempting though it is, borrowing against future revenues may not be the magic wand that Britain's city bosses are hoping for.

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Speaking on his weekly phone-in on LBC's 97.3 FM, he said ministers could not "wave a magic wand" but they had taken "the most reasonable steps" possible at a time when there was little money around, continuing instability in the eurozone and the UK economy was still recovering from the legacy of the 2008 financial crisis.

BBC: UK Politics