Saturday, 2 November 2013

A RECOVERY FOR THE FEW, NOT FELT BY THE MANY

After three damaging years of flat-lining, it’s both welcome and long overdue that our economy is finally growing again.

But for millions of working people still seeing prices rising faster than wages, this is no recovery at all. David Cameron says the economy is fixed, but for ordinary people things are getting harder, not easier. Only last week, figures showed that working people are on average over £1,500 a year worse off since the general election - while high earners on £150,000 or more have had a tax cut.

So when David Cameron and George Osborne claim that the long-delayed return to economic growth is proof that their plan has worked, their out of touch claims will jar with ordinary families.

We need a recovery that’s built to last, so we must also bring forward infrastructure investment now to build thousands of affordable homes. And we need to make long-term changes so that our economy works for working people.

That’s why Labour will cut business rates for small firms, reform our banks, strengthen the minimum wage and introduce a compulsory jobs guarantee for the long-term unemployed.

David Cameron and George Osborne oppose all these measures. Despite the damage of the last three years and the growing cost of living crisis on their watch, they are still making the wrong calls and failing the British people.