It was Bill Clinton’s campaign strategist who insisted that it was all about the economy. And how right he was.
The UK economy funds our schools, our NHS and all of the other public services that we rely on. It affects our standing in the world as well as our appeal to businesses and job creators. Without a strong economy, we cannot have a prosperous country.
When the Conservatives came into Government the country was borrowing over £150 billion a year and unemployment had increased by nearly half a million. Britain had suffered the deepest recession since the war and had the second biggest structural deficit of any advanced economy.
As a result, we had to make realistic assessments about the state of the British economy and this involved taking difficult decisions to reduce the deficit and control spending. Thanks to the hard work of the British people, this long-term economic plan is now working. The deficit is down by half, there are over 2 million more private sector jobs and there are 760,000 more businesses.
Right here in Swindon, confidence is growing – our efforts are making a difference.
And just this last week, it was announced that living standards for the average worker have risen back to their pre-recession levels. This is very positive news, but we are still acutely aware that we need to ease the burden on the tax payer. That’s why we’ve stuck with policies such as cutting income tax and reducing fuel duty. The Conservatives believe that people should keep more of the money that they work hard for.
But the job isn’t done: there is more to do and there are risks in the global economy threatening this country. Britain now faces a choice, between the competence of the Conservatives and the long-term economic plan that has got us this far, or the chaos of going back to the policies of more spending, more borrowing and higher taxes that got us into a mess before.
For 13 years the Labour Government persisted in spending more than this country could afford. Their inefficient and ineffective spending meant our economy was vulnerable at a time when it should have been strong and healthy. Labour hasn’t learned its lesson. Their only policies are still about tax rises, spending more and borrowing more. They have a plan only to create more economic chaos and add more debt for future generations, it is grossly unfair to burden our children with their mistakes.
So the debate surrounding the economy is the most important issue in the run up to this election. A healthy economy pays for schools, the NHS and various other services and it is only the Conservatives who can be trusted on the economy.
