Local Member of Parliament, Sir Alec Shelbrooke, has welcomed the release of recent figures which show that the government has met or exceeded its key economic targets, and which give a firmly positive outlook for the UK's financial future under a Conservative Government.
For example, the government's target of halving inflation has been exceeded, with inflation falling from 11.1% to 4%, meaning that wage rises are once again outstripping inflation.
Since the beginning of 2023 the UK economy has done better than predicted, consistently outperforming other major European economies such as Germany, France and Italy. The IMF projects that the UK will continue to have the fastest growing European G7 economy from 2025-28, all while levels of national debt are predicted to fall.
Consistent investment in science, technology and develop means that the UK now has the third largest tech sector in the world - after the US and China - with more than 40,000 new tech businesses created since 2010.
Under this Conservative Government, an average of 800 jobs have been created each day, reducing unemployment and giving people the financial security and sense of achievement that comes with work. Furthermore, the lowest paid workers have benefitted from the introduction of the National Living Wage.
Apprenticeship schemes, which have been an area of focus for Sir Alec within Parliament, have expanded, with 5 million apprenticeships starting since 2010.
Commenting, Sir Alec said, "The Conservative Government's financial prudence means that we've emerged from a pandemic and a global financial crisis in a far stronger position than most other major global economies. As a result, I'm pleased that we're now able to cut taxes and support businesses, all without saddling the next generation with debt. When we look at the Labour Party's unfunded plans, it seems obvious to me that we should stick to the plan and continue to build a stronger economy."
