Today The Times has sensationally revealed Labour’s secret plans to borrow and spend an extra £25 billion after the election.
Last weekend, Ed Balls was claiming that Labour ‘will not duck the hard choices ahead’.
But analysis by the Institute for Fiscal Studies, a respected independent think tank praised by Balls in the past, has shown that Labour’s plans would allow billions of pounds of extra spending and borrowing.
Gemma Tetlow, programme director of the IFS’ work on pensions, saving and public finances, said: “Ed Balls’s commitment to achieve a surplus on the current budget would allow significantly higher spending on both investment and day-to-day items than would George Osborne’s plan.”
When they were in government, Labour spent and borrowed through the good times and took us into the economic crash with the biggest structural deficit in the developed world – and now they’re proposing yet more spending, more borrowing and more taxes.
Their £25bn of extra spending and borrowing would mean more taxes for hardworking people, putting the recovery at risk and making families less financially secure.
The choice at the next election is now clear.
Same old Labour with no plan, putting Britain’s future at risk.
Or the Conservatives, with our long-term economic that is building a stronger, more competitive economy and securing a better future for Britain by:
- Reducing the deficit so we deal with our debts, safeguard our economy for the long term and keep mortgage rates low.
- Cutting income tax and freezing fuel duty to help hardworking people be more financially secure.
- Creating more jobs by backing small business and enterprise with better infrastructure and lower jobs taxes.
- Capping welfare and reducing immigration so our economy delivers for people who want to work hard and play by the rules.
- Delivering the best schools and skills for young people so the next generation can succeed in the global race.
Our long term economic plan is delivering growth and economic security for hardworking people. Labour’s economic policy of more borrowing and spending is the single biggest risk to the economic recovery.
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Our long-term economic plan is working – and securing a better future for hardworking people.
Today we found out the economy grew by 2.8 per cent last year – the fastest rate of growth since 2007.
What’s more, there’s growth across the economy, with manufacturing growing fastest of all.
It shows that, while there’s still more to do, our long-term economic plan is working – and helping people up and down the country feel more financially secure.
But the job isn’t done. That’s why we must keep working through the plan:
- Reducing the deficit so we deal with our debts, safeguard our economy for the long term and keep mortgage rates low
- Cutting income taxes and freezing fuel duty to help hardworking people be more financially secure
- Creating more jobs by backing small business and enterprise with better infrastructure and lower jobs taxes
- Capping welfare and reducing immigration so our economy delivers for people who want to work hard and play by the rules
- Delivering the best schools and skills for young people so the next generation can succeed in the global race
Only by sticking to the plan will we secure a stronger, more competitive economy and a better future for you and your family.
In contrast, Labour have no plan. All Ed Miliband offers is more spending, more borrowing and more taxes. It’s the same old Labour and would mean a less financially secure future for hardworking people.
Small businesses are the lifeblood of the economy.
By having a go and taking responsibility for themselves, our business owners create jobs for others and help hardworking families feel more financially secure.
While Labour hit business with taxes and regulations, the Conservatives are doing all we can to support our business owners, including:
1) Cutting red tape
We’re scrapping or amending over 3,000 regulations – saving businesses over £850 million every year.
That means entrepreneurs have more money to create new jobs and help provide peace of mind for millions of hardworking people.
2) Cutting the jobs tax
From April, we’re cutting the jobs tax – saving every business up to £2,000.
That means 450,000 small businesses – one third of all employers – will pay no jobs tax at all.
And from April 2015, we’re abolishing the jobs tax for under-21s – so it’s easier for businesses to take on young people.
3) Funding businesses
Our £4 billion Business Bank is helping businesses access the finance they need to start up and grow.
Our Start-Up Loan scheme has already helped 10,000 young entrepreneurs start their own business, while our Funding for Lending programme is helping banks lend more money to small businesses.
4) Increasing rate relief
Since 2010, we’ve doubled business rate relief – meaning 360,000 small businesses are now paying no rates at all.
Again, that’s more money for business owners to take on more people and create a better, more secure future for all.
5) Creating apprenticeships
Since 2010, we’ve helped create 1.5 million apprenticeships.
That’s helping our businesses grow and giving young people the skills they need to get on in life.
6) Cutting corporation tax
To help businesses invest and expand, we’re cutting corporation tax – now at the lowest level in the G7.
It sends a clear message to the world that Britain is a great place to do business.
Since 2010, we’ve helped create 400,000 more businesses. There are now 4.9 million private sector businesses in Britain – up by more than 100,000 since last year.
Small and medium-sized businesses now employ 14.4 million people – that’s 14.4 million people with a regular pay packet, peace of mind and financial security for themselves and their families.
1) The Office for National Statistics revealed there are now 1.3 million more people in work than under Labour - that’s 1.3 million more people taking home a pay packet and being able to provide for their families.
2) The number of children in failing schools decreased by 250,000 - meaning more children getting a great start in life. But overturning Labour’s record of failure of education will take many years to correct - and we will carry on working to deliver the best schools and skills for our young people.
3) The deficit is £11.1bn lower than it was this time last year. We still have a long way to go to pay off Labour’s debts, but our difficult decisions to tackle the deficit are safeguarding the economy for the long term and keeping mortgage rates low.
4) With tax return deadline day approaching, millions of people filled in their tax returns – and saw how much money they’ve saved because we’ve cut income tax. Find out how much you’re saving here: incometaxcut.conservatives.com
5) Manufacturing orders soared, meaning more work for British companies, and more jobs being created.
6) Our streets and communities are safer, with crime down by over 10% across England and Wales.
7) The IMF upgraded their forecast for UK growth from 1.9% to 2.4%. There is still much more to do, but our long-term economic plan is building a stronger, more competitive economy and securing a better future for Britain.
Today’s news that take-home pay is starting to rise in real-terms shows that the Conservatives are on the side of hardworking people.
As a result of our long-term economic plan and our decision to cut taxes for 25 million people, take-home pay rose a third faster than inflation last year.
People who work hard have been made poorer by Labour’s Great Recession and times are tough for families as a result.
That’s why we’re cutting taxes for hardworking people – so they have more money in their pockets and can better provide for themselves and their families.
It’s part of our long-term economic plan to help hardworking people and while there’s still a long way to go, today’s news shows our plan is starting to work.
Only by continuing to work through our long-term plan will we secure a stronger economy and a better future for our children.
But Labour have no economic plan. All Ed Miliband offers is more spending, more borrowing and more taxes. It’s the same old Labour and it would mean a less financially secure future for Britain and for hardworking people.
Today’s employment figures show that our long-term economic plan is working.
There are now 1.3 million more people in work than in 2010.
What’s more, there are 280,000 more people in work compared with three months ago – the biggest rise in employment since records began.
By creating more jobs, we’re delivering a better future for hardworking people. Each new job means another person taking home a pay packet to help them provide for their family and get on in life.
Meanwhile, the number of people without a job has fallen by 170,000.
Our long-term plan is creating more jobs by backing small businesses with better infrastructure and lower jobs taxes – and that’s securing a better future for hardworking people.
We’ve come a long way from Labour’s record of unemployment.
Labour left nearly half-a-million more people without a job and Ed Miliband said our economic plan would ‘lead to the disappearance of a million jobs’.
But today’s figures confirm the opposite – that we’re helping hardworking people into work, delivering a more secure future for those who want to work hard and get on in life.
Labour have opposed every difficult decision we have taken to turn Britain around – all they offer is short-term political gimmicks. They have no plan for Britain’s future and hardworking people would be worse off under Labour.
The Conservatives are clamping down on people who exploit our welfare system – and building an economy for those who work hard and play by the rules.
Labour failed to recognise that if you have a welfare system that doesn’t make work worthwhile and support people into jobs, you pay the price elsewhere.
With one hand, Labour doled out millions of pounds for people to sit on benefits. With the other, they opened the door to mass immigration, with those from abroad filling jobs which our own people couldn’t get.
But our long-term plan is ending Labour’s something-for-nothing culture.
We’re stopping housing benefit for EU immigrants who are out-of-work.
EU immigrants are now also banned from receiving out-of-work benefits for their first three months in Britain. Moreover, they will only be allowed to claim jobseeker’s allowance for six months unless they have genuine prospects of finding work.
Only by making work pay can we ensure Britain’s growing economy and dynamic jobs market deliver for those who work hard and play by the rules.
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Ed Miliband is all over the place. He has no credible economic plan, and instead jumps from slogan to slogan to try and catch short-term headlines.
All he offers is more of the same old Labour policy that got us into a mess in the first place - more spending, more borrowing and more taxes, which would mean a less secure future for hardworking people and their children.
The only way to ensure a better, sustainable and more financially secure future for people who work hard and for their families is to continue working through David Cameron’s long-term economic plan:
- Reducing the deficit - so we deal with our debts, safeguard our economy for the long term and keep mortgage rates low
- Cutting income taxes and freezing fuel duty - to help hardworking people be more financially secure
- Creating more jobs - by backing small business and enterprise with better infrastructure and lower jobs taxes
- Capping welfare and reducing immigration - so our economy delivers for people who want to work hard and play by the rules
- Delivering the best schools and skills for young people - so the next generation can succeed in the global race
The Conservatives are backing shale gas in order to create jobs, help businesses and support local communities.
Part of our long-term economic plan is to invest in better infrastructure for Britain’s future. That’s why we’re getting behind shale – and ensuring local communities benefit directly.
David Cameron has announced that millions of pounds in business rates will be awarded to local councils in England that approve shale gas developments.
Councils will keep 100 per cent of revenues from the business rates they collect from shale gas – double the current level. That could be worth up to £1.7 million a year for a typical site.
That’s on top of the £100,000 councils will receive whenever a test well is sunk and the one percent of revenues they will make if shale gas is found. This could be worth an extra £5-10 million over the lifetime of a typical site.
Meanwhile, it’s estimated that shale gas will support 74,000 new jobs – helping families throughout Britain feel more financially secure.
It’s part of our long-term economic plan to build a stronger, more competitive economy that creates more jobs and benefits local communities up and down the country.
#ShareTheFacts with everyone you know
Our long-term economic plan is the only way we can build a strong economy and secure a better future for Britain. We cannot afford to go back to Labour’s way of more borrowing, more spending and more taxes.
So let’s show people just how important our long-term economic plan is for them, their family and our country: share our plan on Facebook and Twitter, email the graphic to your friends, and help spread the message as far as we can.