Archive for the ‘Economy’ Category
Britain: Billions of pounds in the Red thanks to Labour – Annabel Goldie MSP
Annabel Goldie MSP, Scottish Conservative Leader, says:
“Labour’s mismanagement of Britain’s economy has been catastrophic. Debt interest payments alone will soon reach £60 billion, twice the entire amount spent on Scotland’s health service, schools, police, roads and local services every year.
“Scotland’s share of Labour’s debt mountain is an estimated £72 billion. We need a government with a credible plan and the political resolve to put Britain back in the black. The risk of 5 more years of Labour is more waste, higher tax, a worse credit rating, higher interest rates and higher mortgages. Britain is billions of pounds in the red as a result of Labour’s mismanagement of the economy.
“In Scotland, the Conservatives have helped tens of thousands of businesses weather the worst of Labour’s economic storm by ensuring business rates were cut or abolished, a move which the Federation of Small Businesses says has prevented 1 in 8 small firms from going bust.
“We have to deliver that kind of real help right across the United Kingdom.
“That is why a Conservative Government would scrap Labour’s tax on jobs, get credit flowing again, protect and create jobs to boost the recovery, and get to grips with Labour’s debt. Dither and delay would risk the recovery, not help it. The time has come for action, and for change.”
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May 6th announced as date of General Election UK
The General Election is finally called
Tuesday, April 6 2010
David Cameron has welcomed the official announcement of the General Election date.
The election is a choice between five more years of Gordon Brown’s tired government making things worse - or change with the Conservatives, who have the energy, leadership and values to get Britain moving again.
Speaking to supporters this morning, David Cameron will say that the Consevatives are “fighting this election for the great ignored”.
“Young, old, rich, poor, black, white, gay, straight. They start our businesses, operate our factories, teach our children, clean our streets, grow our food, keep us safe. They work hard, pay their taxes, obey the law”, he will say.
“They’re good, decent people – they’re the people of Britain and they just want a reason to believe that anything is still possible in Britain.”
“This election is about giving them that reason, giving them that hope”.
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Labour will put the boot into Britains recovery
Labour will kill the recovery
Monday, April 5 2010
The Conservatives have launched a poster as part of a wider campaign highlighting how Labour’s job tax will kill the recovery.
“Labour have confirmed today that they are going ahead with a national insurance tax rise on jobs that Britain’s business leaders say will endanger jobs”, said George Osborne, the Shadow Chancellor.
The Conservatives have also unveiled new research showing how National Insurance has become Labour’s favourite stealth tax:
- Total receipts from National Insurance have risen over five times faster than income tax receipts over the last decade.
- Average National Insurance Contributions (NICs) per family have risen over twelve times as much as average income tax receipts per family over the same period.
- In that time Gordon Brown cut the basic rate of income tax once (as part of the 10p tax con) but he increased National Insurance rates in three different ways – and that’s even before Labour’s new tax on jobs planned for 2011
“With Gordon Brown now finally forced to call the election, the choice is clear”, Osborne added.
“Labour’s jobs tax and debt will stamp out the green shoots and kill the recovery. Conservative plans to cut wasteful government spending and stop the jobs tax will get Britain working.”
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Alan Sugar thinks small business are moaners who live in Disney World – Appointed by Labour on April Fools Day UK
Sugar appointment criticised
Philip Hammond has criticised Labour’s announcement that Lord Alan Sugar will lead a new government task force designed to fight the corner of small businesses against the banks.
“Only Labour could announce on April Fool’s day that it had appointed the man who called credit-starved small businesses ‘moaners’ who lived in ‘Disney World’ to be the adjudicator on their applications for bank loans”, he said.
Lord Mandelson has selected Lord Sugar to sit on the task force which will set up the Small Business Credit Adjudicator. Lord Mandelson believes the people he has chosen “… understand the critical importance of new finance and credit flow to the growth of small, innovative companies”.
But Lord Sugar said last year: “The moaners are bust… they don’t need the bank, they need an insolvency practitioner”.
This comes on the same day that the Federation of Small Businesses, the British Retail Consortium and 23 business leaders attacked Labour’s planned tax on jobs.
“No wonder no-one believes Lord Mandelson’s claims to be the champion of small business when Labour would rather tax jobs and the recovery than cut government waste”, Hammond added.
Well this is news that small business can do without. Clearly Lord Alan Sugar has nothing in common with small business and is merely another puppet of Labour.
Jim Ferguson
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Captains of Industry and Business Leaders are Backing the Conservatives UK
Top Business Leaders Back Tories On Tax
9:42am UK, Thursday April 01, 2010
Ruth Barnett, Sky News Online
A group of business leaders have written a letter backing the Conservatives’ proposal to halt a planned rise in National Insurance.
David Cameron described it as a “very important moment in the election campaign”.
The executive chairman of Marks and Spencers, Sir Stuart Rose, and easyJet entrepreneur Sir Stelios Haji-Ioannou are among the 23 people to have signed the letter, which is published in the Daily Telegraph.
The signatories employ around half a million workers between them.
They agree with shadow chancellor George Osborne that increasing NI by 1p next April, as Labour plans to do, is bad news for the economy.
“The Government’s proposal to increase national insurance, placing an additional tax on jobs, comes at exactly the wrong time in the economic cycle,” the letter says.
The Labour Party feel that the Conservatives’ plan has not been properly costed and not properly thought through.
Sky’s political correspondent Joey Jones
“In a personal capacity, we welcome George Osborne’s plan to stop the proposed increase in national insurance by cutting Government waste.”
Mr Cameron told BBC Breakfast: “These household names – people like Marks & Spencer, Sainsbury’s and Mothercare – are saying that Labour’s plans to put up National Insurance contributions are the biggest threat to the recovery.
“They are saying there is no threat to the recovery from cutting waste in 2010 but there is a threat to the recovery from putting up National Insurance contributions.
“Labour have said the whole thing is that we can secure the recovery. Well, today that plank of their whole approach has been removed.”
Chancellor Alistair Darling pledged to introduce the rise as a way of paying off some of the nation’s debts.
But Mr Osborne said he would axe the increase for people earning less than £45,000 if his party wins power at the next election. He said he would pay for this by finding efficiency savings worth £12bn.
Mr Darling counters that Mr Osborne’s policy is at odds with the Conservatives’ claim they would cut the deficit sooner and deeper than the Government plans.
Treasury Chief Secretary Liam Byrne said the Conservatives were not able to fund their promise on NI.
“No business goes to its shareholders with unfunded promises – but that’s exactly what the Tories are doing,” he said.
The captains of industry and top business leaders are fully aware of the failure of this Labour Government. They are giving their full backing to the Conservatives, because they know we have the experience and common sense, to get rid of Labour’s crippling debt, but not at the expense of putting more businesses out of action, or risking the creation of new jobs.
Members of the public whose jobs are hanging by a thread need to take note and ensure their vote is for the Conservatives. Another term of Labour could spell disaster for them and everyone else in the United Kingdom.
Jim Ferguson
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Brown caught misleading people again with wrong immigration data UK
The figures Gordon Brown gave in a podcast about immigration were wrong, the statistics watchdog has told the Prime Minister in an open letter.
The PM’s speech was correct but his podcast was not, the letter says
Mr Brown “did not use comparable” sets of data when he discussed the number of people who had come to Britain in recent years, the note the chair of the UK Statistics Authority said.
A statement from Downing Street said it accepted some of the numbers used were unclear and not strictly comparable.
The Prime Minister used the podcast to talk about his points system and reassure working families that the system is fair.
“Some people talk as if net inward migration is rising. In fact, it is falling – down from 237,000 in 2007, to 163,000 in 2008, to provisional figures of 147,000 last year,” he said.
“Some people talk as if all immigrants stay here forever. In fact, most come for short periods and then return to their own country.”
But the chair of the statistics authority, Sir Michael Scholar, said the figure for 2007 should have been lower – the official number was 233,000, not 237,000.
It means the scale of the fall is less dramatic than Mr Brown implied.
There is an urgent need for immediate steps to properly control immigration instead of the free for all flood of migrants some with no skills and many who cant even speak English.
Labour systematically ignored the warnings just to rub the rights nose in it and in the hope of getting more votes. They betrayed the interests of Britain and the British people and now growing pressure mounts on all major frontline services with education, healthcare and the prisons bursting under the strain of an endless flood of people invited into the UK by Labour.
Labour lied to us all.
Jim Ferguson
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Conservatives to offer real help for small business UK
I am pleased to see some real help being promised for small business. Its encouraging that small business is being recognised for the part it plays by the Conservatives who understand the importance of the fact that we are a nation of traders and that small business accounts for 80% of the revenue raised.
Jim Ferguson
Conservative tax reform to aid self employed
Wednesday, March 31 2010
Mark Prisk, the Shadow Business Minister, has announced that a Conservative Government would undertake a full and fundamental review of small business taxation, including IR35.
The aim will be to provide a simpler, clearer and lasting tax regime, so businesses can plan with confidence.
“For the last 13 years, Labour have constantly meddled with the tax rules for freelancers and self-employed, Prisk said. “IR35 has especially proved to over-complex, uncertain and often unfair”.
IR35 has cost business £73 million over 10 years but it has barely raised revenue for the Treasury. Prisk criticised Gordon Brown for making it harder to be self-employed at a time when Britain should be open for business.
“This is why a Conservative Government would mandate the independent Office of Tax Simplification to undertake a fundamental review of current arrangements with the aim of providing a clearer, lasting and fairer tax regime”.
This announcement is in addition to previous plesges to simplify the tax system, cut Corporation Tax for small firms, and make small business rate relief automatic.
“Small businesses cannot afford 5 more years of Gordon Brown”, Prisk added. “Only the Conservatives have the energy and the ideas to get Britain working by boosting enterprise”.
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Gordon Brown’s record – Conservative “Vote for Me” campaign
Michael Gove has launched a new poster campaign putting Gordon Brown’s record at the heart of the election campaign.
These posters arrive alongside a new analysis of Labour’s time in power, and you can view both by clicking the links below.
Speaking at the launch, Shadow Education Secretary Michael Gove said:
“Gordon Brown is asking people to vote him in for another five years but he and his tired Government will just make things worse.”
“He has doubled our national debt and squandered billions of pounds selling off Britain’s gold at rock bottom prices. He has taken billions out of our pensions system and doubled the tax rate for the poorest workers. He has let down our young people by causing record youth unemployment, and overseen an increase in the gap between the rich and poor. And he has let 80,000 criminals out of prison early, leading to 1,500 crimes being committed by people who should have been behind bars.”
“We can’t go on like this. The choice at this election is five more years of Gordon Brown’s tired government making things worse or David Cameron and the Conservatives with the energy, leadership and values to get the country moving.”
… and here are some other things Gordon Brown did…
Cut the Defence Budget at a time of war – and got caught out denying it!
Gordon Brown misled the Chilcot Inquiry, Parliament and the public when he claimed that ‘the defence budget has been rising every year since 1997’
(Hansard, 10 March 2010, Col. 291).
He was later forced to admit that ‘I do accept that in one or two years defence expenditure did not rise in real terms’
(Hansard, 17 March 2010).
Figures from the Ministry of Defence show that the defence budget actually fell year-on-year in real terms on four occasions since 1997 – in 1998, 1999, 2002 and 2007.
(Channel 4 News Factcheck, 10 March 2010).
Taxed jobs as we were emerging from recession.
Last December, Gordon Brown’s Government announced a tax on jobs – a 0.5 per cent rise in the rate of National Insurance Contributions for both employees and employers. This comes on top of the
rise in NICs announced in the 2008 PBR, meaning a total planned rise of 1 per cent. This is a tax on all businesses and on every person earning over £20,000.
The Federation of Small Businesses has estimated that this could mean up to 57,000 jobs are lost. (FSB,
Press Release, 24 March 2010)
Increased spending on quangos by £10 billion.
The cost of unelected and poorly accountable government bodies has soared by almost £10 billion under Gordon Brown. In his first year as Prime Minister, total expenditure on so-called
“executive non-departmental public bodies” rose from £37.0 billion to £43.0 billion in 2007-08 – a 16 per cent rise
(Cabinet Office, Public Bodies 2007, p.10; Public Bodies 2008, p.10).
Figures for 2008-09 revealed quango expenditure rose by another £3.5 billion to £46.5 billion – a 7 per cent rise
(Cabinet Office, Public Bodies 2009, p.6) making a mockery of his claims to deliver a new politics.
Brought boom and bust to the NHS – which led to NHS cuts.
Despite massively increasing spending, Gordon Brown has been guilty of a ‘boom and bust’ approach to the NHS finances, forcing NHS Trusts into cuts and wasteful short-term spending. Between 2005 and 2007, 14,500 jobs were cut from the NHS as Trusts struggled to recover from deficits
(NHS Information Centre, NHS Staff 1998-2008, 25 March 2009).
And since 2004, the number of beds in the NHS has been cut by 21,500 – the equivalent of 12 per cent
(Department of Health, Bed availability and occupancy 2008-09, 30 September 2009).
Accident and Emergency departments and maternity units up and down the country have faced or are facing cuts and closures. And things are only set to get worse, as one of Gordon Brown’s own health advisers said that ‘the days of the District General Hospital are over’
(Professor Sir Ara Darzi, NHS London, A Framework for Action, 11 July 2007).
Let truancy rise to record levels.
In 1998, Gordon Brown’s Treasury set a target to reduce truancy rates to 0.5 per cent
(HM Treasury, Comprehensive Spending Review, Public Service Agreements 1999-2000, December 1998).
But the figure now stands at 1.05 per cent – up 44 per cent since 1996/7, well in excess of the Government’s target, and at a record high. 67,000 pupils skip school without permission every day
(DCSF, Pupil Absence in Schools in England, Including Pupil Characteristics: 2008/09, 25 March 2010).
Paid couples more to live apart than together.
The tax credit system penalises parents who live together, giving families a financial incentive to split up.
The IFS has highlighted the fact that a couple with children earning £20,000 between them could be more than £5,000 better off in terms of benefits and tax credits if they split up.
(The Sunday Times, 4 March 2007).
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Labour will kill the recovery with their tax on jobs UK
We will stop Labour’s damaging NIC increase
Monday, March 29 2010
The Conservatives have announced that a Conservative Government will stop Labour’s tax rise on jobs by cutting waste.
Stopping the planned increases in National Insurance Contributions will result in 7 out of 10 working people being better off.
A Conservative Government will take immediate action to start cutting Government waste, in order to spend £6 billion less in 2010-11 than Labour’s plans.
“The re-election of a Labour Government under Gordon Brown – with more debt, waste and taxes – will bring us a new recession”, George Osborne said, speaking alongside Ken Clarke and Phillip Hammond.
“Labour will kill the recovery with their tax on jobs. We will cut Labour waste to stop it.”
Former Government advisers Sir Peter Gershon and Dr Martin Read, now members of the Conservatives’ Public Sector Productivity Advisory Board, advise that savings of £12 billion across all departmental spending are possible in-year without affecting the quality of front line services.
Having identified these savings the Conservatives can now commit to stop Labour’s tax rise on working people and jobs at the same time as reducing the deficit faster:
Labour are planning to raise Employees National Insurance Contributions (NICs) for everyone earning over £20,000. We will stop this increase altogether for everyone earning under £35,000 by raising the primary threshold at which people start paying NICs by £24 a week, and raising the Upper Earnings Limit by £29 a week.
Relative to Labour’s plans everyone liable for Employees NICs earning between £7,100 and £45,400 – which is 7 out of 10 working people – will be up to £150 better off a year under the Conservatives. Lower earners will get the greatest benefit as a percentage of their earnings. Nobody will be worse off.
Labour are also planning to raise Employers NICs for everyone earning over £5,700. This is a tax on jobs that will undermine the recovery. We will raise the secondary threshold at which employers start paying NICs by £21 a week, saving employers up to £150 for every person they employ relative to Labour’s plans. This will reduce the cost of Labour’s tax rise on employers by more than half.
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Empty promises and an empty Budget from an empty Labour Government UK
David Cameron responds to Labour’s empty Budget
Wednesday, March 24 2010
David Cameron has responded in the House of Commons to the Chancellor’s presentation of the last Budget before the general election.
He said Labour “have made a complete mess of the British economy and they are totally failing to clean it up”.
Cameron set out the big argument in British politics: Labour say “don’t do anything before the election, let’s just sit tight and keep our fingers crossed”, and the Conservatives say “we need real action to get our economy moving – and urgently”.
Highlighting new policies that copied existing Conservative proposals, such as the stamp duty cut and new university places, he said the “only new ideas in British politics are coming from this side of the House” and that “the only thing Labour bring are debt, waste and taxes”.
The figures that stands out above any other, he said, was that Labour have “doubled the national debt, and they’re going to double it again”.
Outlining the Government’s failure Cameron criticised “all those schemes that they launched with great fanfare” for failing to help enough people. He also drew comparisons on the state of the economy when Labour came to power to the present – including the huge increase in the debt and deficit, and a falling down the global league tables in terms of competitiveness, tax and regulation.
We need a credible plan to deal with Britain’s record debts”, he said, criticising the Chancellor’s repeated hope to halve the deficit by 2014 as giving us a deficit “almost as big as when Denis Healey went to the IMF in the 1970s”.
Moving on to the delay in dealing with the deficit, he said “the risk to recovery is not in dealing with the deficit now, it’s in not dealing with the deficit now”. Cameron said that “every family knows that when your debts mount up, you need to start paying them off or things will only get worse”, and that it is time for the Government to learn the same lessons”.
“The Prime Minister and Chancellor faced a choice – between bold action in an election year or playing politics. Once again, they chose politics.”
Cameron also emphasised the need “to show the world that we are back open for business”, saying that because Labour “flunked the difficult decisions on spending, they are raising tax after tax after tax – all after the election”. “These are the ticking tax bombshells timed to go off the day after the election and that will destroy our recovery.”
He said that the greatest risk to Britain’s economic recovery was another Labour government. “No one has yet thought of a question to which the answer is five more years of this Prime Minister”, he said.
“We need a credible plan to cut the deficit. We need an unleashing of enterprise across the nation. We need a plan to boost employment through radical welfare and school reform. If ever there was a time when this country needed a radical change of direction it is now.”
He concluded that Britain needs a Conservative government “to clean up the mess made by this Labour Government”.
“Britain needs new energy, leadership and values to get this country moving again. That’s the argument we’ll take to the country the moment the Prime Minister has been forced by the law of the land to call the election he has avoided for so long.”
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