We had to take difficult decisions to deal with the mess left by Labour and control spending. Thanks to the sacrifices of the British people, our economic plan is working – but the job is not done. The deficit has been cut by over a third, there are over two million more private sector jobs and 400,000 more businesses. But many risks remain. These are the early stages of the recovery and we must not risk what Britain has achieved.
We need to stick with our long-term economic plan because it is the only sustainable way to raise living standards. It is already delivering low mortgage rates and low taxes – backing people who want to work hard and get on. We would put all of this at risk if we listened to Labour’s calls for more borrowing, more spending and more debt – that would mean higher taxes and higher mortgage rates. Now is the time for a long-term plan to fix the British economy – not opportunistic, short-term political gimmicks.
Employment
On 11 June 2014, the ONS published labour market statistics for the three months to April. These strong jobs numbers are a clear sign that our long-term economic plan is working. Up and down the country businesses are feeling increasingly confident about creating jobs.
Creating more jobs
- Employment is up by almost 1.7 million since the election.
- The private sector has created over 2 million jobs since the election.
- For every 1 job lost in the public sector, 5 jobs have been created in the private sector.
- Unemployment is down 329,000 on the election.
- Record number of women in work.
- Claimant count 408,800 lower than at the election.
- Youth unemployment is down 91,000 since the election.
- Over half a million unfilled job vacancies.
Food poverty
On 9 June 2014, a joint report by Oxfam and other charities claimed that in 2013/14 over 20 million meals were given out to people in food poverty, more than double the number in 2012/13. We are offering real help to families who need it by allowing Jobcentres to signpost people to food banks and providing emergency financial assistance.
Energy market
On 10 June 2014 Ofgem wrote to the ‘big six’ calling on them to pass on recent falls in wholesale gas and electricity prices. Energy suppliers need to ensure that they pass savings on to people as quickly as possible. We are taking action by making the energy market more competitive and simplifying tariffs to make it easier to switch between suppliers.
Conservative Achievements
- We are reducing the deficit and have already cut it by more than a third.
- We have cut income tax for 25 million people.
- We are freezing fuel duty in every year of this parliament.
- We are creating more jobs.
- We are capping welfare.
- We are reducing immigration.
- We are delivering the best schools for young people.
- We are delivering the best skills training.
- We secured a cut in the EU budget and vetoed the EU Fiscal Treaty.
- Crime is down by more than 10 per cent.