I was delighted to kick-start the week by celebrating the 10th anniversary of National Apprenticeship Week at Swindon College. In Swindon 10,070 people have started an apprenticeship since 2010 which has helped youth unemployment fall by a staggering 69.2%. The Government has rightly doubled funding for apprenticeships to £2.5bn as part of its pledge to secure 3 million before the end of the Parliament. We have also seen reform as well ensuring that apprenticeships last for at least 12 months and should involve meaningful on the job training. This means that people can now meaningfully earn whilst they learn and I look forward to welcoming the next wave of enthusiastic apprentices when they graduate.
On Wednesday we saw Chancellor Phillip Hammond get to the dispatch box to deliver his spring budget. At the heart of it was our commitment to a strong economy, laying the foundations of a stronger, fairer, more highly-skilled global Britain outside the EU. It was very positive to see that the Office for Budget Responsibility has revised its growth figures upwards from 1.4% to 2% in 2017. In addition, wages are forecast to rise every year, the deficit is forecast to fall to 2.6% and debt as a proportion of national income is forecast to begin falling in 2018-19 – the first fall since 2001-02. This is all good news however it does reinforce the need to stick with some tough decisions and live within our means. Britain has a debt of nearly £1.7 trillion – almost £62,000 for every household in the country. Each year, we are spending £50 billion on debt interest – more than we spend on defence and policing combined. So the only responsible course of action is to continue with our current economic plan to bring finances under control. This involves ensuring that everybody pays their fair share of tax, especially those with the broadest shoulders. That’s why since 2010, we have secured £140 billion in additional tax revenue by taking bold action to tackle avoidance, evasion and non-compliance.
Part of the reason that we still have to find additional tax revenue is to continue our commitment to support the NHS, as well as the elderly and the vulnerable. Our social care system cares for over a million people, and this in turn puts pressure on the NHS. That is why the Government has already committed more than £7 billion extra spending power to the system over the next three years, and is ensuring local authorities work more closely with the NHS. But this budget went further, committing additional grant funding of £2 billion to social care in England over the next three years. I know this news has been welcome by local authorities across the country.
Ultimately, it is our strong economy that has delivered better-than-expected growth, improved public finances and record employment, which has allowed us to deliver £2bn extra for Adult Social Care, much needed increased capacity for our A&Es and significant investment in our schools and technical education.
Finally, it was fantastic to host the Motor Neurone Disease special interest group in my office this week as they put on a series of talks and presentations regarding the support and care that is available for those with MND as well as the people who care for them. A big thank you to the local MND Association and the other organisations including the fantastic Dressability who attended on the day to make this brilliant event such a success.
