Today was a major milestone for Britain.
New figures show the economy is now above its pre-crisis peak.
Labour’s Great Recession shrank the economy by 7.2 per cent and cost Britain six years.
But the Conservatives’ long-term economic plan is getting Britain back on track and the IMF say our economy is now growing faster than any major advanced economy.
A growing economy means businesses creating jobs so more people have the financial security of a pay packet to provide for themselves and their families.
Thank goodness we didn’t listen to Ed Balls.
Only last year Labour’s Shadow Chancellor said our plan ‘is not working’ and we ‘should have U-turned on the plan’ (BBC News, 20 March 2013).
It’s yet another thing Labour have got wrong. They wrecked the economy when they were in government; said the recovery would never happen; and now have no plan besides more spending, more taxes and more debt than future generations can ever hope to pay off.
We owe it to hardworking taxpayers to keep working through our long-term economic plan and not repeat the mistakes of the past.
That’s the only way we’ll secure a stronger, healthier economy, and a better future for Britain.
Harriet Harman, Labour’s Deputy Leader, has finally let the cat out of the bag: Labour want to raise your taxes.
In a radio interview, she said:
‘Yes I think people on middle incomes should contribute more through their taxes’
(Source: LBC phone-in, 14th July 2014)
Ed Miliband has defined those on middle incomes as “people either side” of £26,000 a year (Source: Ed Miliband, BBC Breakfast, 28 February 2011). So Harriet Harman’s confession means that millions of hardworking taxpayers would pay the price for a Labour Party that hasn’t learnt its lesson.
Labour want you to foot the bill for their plans to spend more and borrow more - and they’ve floated a number of tax rises if they win the next election:
- A new tax on the family home (Source: Ed Miliband’s Speech in Bedford, 14 February 2013)
- A rise in National Insurance (Source: Observer, 20 April 2014)
- Higher fuel duty (Source: Ed Miliband, Labour Press Conference Q&A, 11 January 2011)
- A new tax on farms (Source: Mail on Sunday, 8 June 2014)
- A graduate tax (Source: Emily Thornberry MP on Daily Politics, BBC Two, 2 April 2014)
- A rise in corporation tax (Source: Financial Times, 24 September 2013).
- A new tax on pensions (Source: Liberal Conspiracy, 20 September 2013; HM Treasury, Budget 2013, March 2013, Table 2.1).
When they were in government, Labour raised taxes by £1,400 per family (Source: IFS, Tax and Benefit reform under Labour, p.24, 7 April 2010).
By contrast, the Conservatives have frozen fuel duty and cut income tax for 25 million hardworking taxpayers, making families more financially secure.
UPDATE: Conservative Party Chairman Grant Shapps has written to Harriet Harman. Click here to read the letter in full (PDF).
All over the country the economy is growing.
New figures from Lloyds show that there was growth in every region of the economy in June, with companies in the North East growing faster than in any other part of the country.
The figures also show that jobs are now being created at the fastest rate since records began, with companies in the East, South East, Yorkshire and Humber, and the West Midlands hiring more people than at any time since 2001.
Every new job gives another hardworking taxpayer the security of a pay packet to provide for themselves and their families.
Our long-term economic plan isn’t just building a stronger economy, it’s doing so in a balanced way – benefitting all parts of the country.
The plan is working – but it isn’t finished. We need to keep it going to ensure the recovery continues and to secure a better future for every part of Britain.
The recovery is in stark contrast with Labour’s record. For every ten private sector jobs created in London and the South between 1998 and 2008, just one was created in the Midlands and the North. (Centre for Cities, Private sector cities: A new geography of opportunity, 2010)
While Labour left large parts of the country behind, we’re building a recovery for all.
Labour have done it again.
Just six days after their last dodgy stat, they’ve come out with another.
On Monday Labour’s Shadow Business Secretary Chuka Umunna claimed that the number of young people on unemployment benefit has gone up by 60 per cent since May 2010.
It’s actually fallen by 38 per cent. In May 2010 there were 429,300 young people on JSA compared with 265,600 today – a fall of over 163,000 (ONS, Labour Market Statistics, 11 June 2014, CLA02).
Umunna also said that young people on unemployment benefit in the North East has gone up by 263 per cent.
It’s actually gone down by over 6,000 – a fall of 27 per cent (ONS, NOMIS Labour Market Statistics, http://www.nomisweb.co.uk/reports/lmp/gor/2013265921/subreports/gor_ccadr_time_series/report.aspx).
By delivering skills and creating opportunities and jobs, our long-term economic plan is helping young people get on in life and securing a better future for Britain.
Whereas we have a long-term economic plan, Labour have no plan at all – and no amount of dodgy stats can hide it.
Last week it was jobs, this week it’s benefits for young people – if Labour keep getting their numbers wrong, how can they be trusted on the economy?
You can’t trust Labour with the economy - just look at what they did when they were last in power:
- They were responsible for Britain’s longest and deepest recession since the War – making hardworking taxpayers poorer and less financially secure. (Source: Office for National Statistics, Quarterly National Accounts)
- Unemployment increased by nearly half a million under Labour – with hundreds of thousands of families left without the security of a pay packet. (ONS, Labour Market Statistics, Table A02)
- The number of people claiming unemployment benefit rose by 82 per cent between 2005 and 2010 – under Labour, our economy did not deliver for those who wanted to work hard and play by the rules. (ONS, Labour Market Statistics, Table CLA01)
- They left 292,000 more young people unemployed than when they came into office – a rise of 45%. (ONS, Labour Market Statistics)
- They left Britain with the biggest budget deficit in our peacetime history - with hardworking taxpayers forced to pick up the tab for Labour’s reckless spending. (ONS, Public Sector Finances)
The facts are clear: Labour wrecked the economy and failed hardworking taxpayers.
And they haven’t learnt their lesson. While the Conservatives have a long-term economic plan that is building a stronger, more competitive economy, Labour’s only answer is more spending, more borrowing and more taxes – exactly what got Britain into a mess in the first place.
That’s why we need to carry on working through our plan to secure a better future for Britain.
It’s no secret that Labour struggle with their figures – but this takes the biscuit.
In a keynote speech today, Ed Miliband will claim that ‘four-fifths of all the new private sector jobs created since 2010 are in London’.
Trouble is, that statistic is over two years out of date (it’s from a Centre for Cities Report, looking at the regional labour market 2010-12) – and the most recent figures from the Office for National Statistics actually show the opposite:
Three-quarters of new private sector jobs have come from outside London since 2010. (ONS, Public Sector Employment, Table 7 - Regional private sector employment, 11/06/14)
Labour’s blunder shows two things:
- The Conservatives’ long-term economic plan is helping create jobs across the country, ensuring more people than ever before have the security of a pay packet
- Labour have no plan for jobs – and no amount of twisting the facts can hide it
And if you can’t trust Labour with the facts, how can you trust them with the economy?
Share this post on Twitter and Facebook today and let everyone know that Labour are wrong on jobs – and wrong for Britain.
UPDATE: When asked about the two-year-old statistic, Ed Miliband said ‘I absolutely stand by it – it’s the best statistics I’ve seen’. So good, in fact, that he decided to leave it out of his speech – despite briefing it to all media in advance.
Ed Miliband and Labour - they’re just not up to it…
Our young people deserve the best start in life – and that’s what we’re delivering.
Since 2010, our long-term economic plan has helped create 1.8 million apprenticeships, with more applications from young women than ever before.
By helping young people develop their talents and skills, we’re ensuring the next generation succeeds in the global race.
Support our apprentices by sharing this post on Facebook and Twitter.
By delivering more apprenticeships than ever before, we’re not only helping record numbers of young people get on in life – we’re also securing a better future for Britain.
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