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The Economy
The Labour Government has built a strong and stable economy. Employment has increased and there are now almost two million extra jobs and over 100,000 extra businesses since 1997. Britain is enjoying the longest period of sustained low inflation and interest rates since the 1960s.
I believe this has happened because of the tough, long-term decisions we took such as giving independence to the Bank of England. I am proud that under the stewardship of the Chancellor Gordon Brown, Britain has avoided recession - something that other major industrialised countries have not been able to do. Anne Campbell
The Facts
| Investment | Unemployment in Cambridge has fallen by 1109 since 1997 - a 50.5 per cent drop. In the Eastern Region 357 new businesses start up on average each week. The number unemployed for more than one year fell by 79 per cent between 1997 and 2004. Thousands of key workers have been helped into home ownership nationally. |
| Commitment | Britain now has the lowest inflation, mortgage rates and unemployment for a generation. Mortgage payments are, on average, £300 a month cheaper than under the Tories. The minimum wage will rise to £5.05 in October 2005, benefiting over 1 million people - 70 per cent of whom are women. By 2005-06 families with children in the poorest fifth of the population will be on average £3000 a year a better off than in 1997 as a result of personal tax and benefit measures. By 2005-06 pensioner households will be on average £1350 a year a better off than in 1997 as a result of personal tax and benefit measures. |
| Success | 590 young people in Cambridge have found work through the New Deal. 310 people have been helped into work in Cambridge by the New Deal for over 25s. 90 people have been helped by the New Deal for over 50s in Cambridge. 330 people in Cambridge have been helped by the New Deal for Lone Parents. |
The work goes on: A Labour Government will:
Continue with the policies which have delivered economic prosperity.
Tackle unemployment by continuing with the New Deals and reforming Incapacity Benefit to get those who want to, and can, off benefits and into work.
Help first time buyers to get a home of their own by using surplus public land so that we can supply new homes to first time buyers at around £60,000.
Help 80,000 families into a home of their own by 2010.
The Myths
The Lib Dems have made over 100 spending commitments - but there are no clear plans to pay for them.
The Lib Dems claim you will be better off with a local income tax. However, for a couple on average earnings with a combined income of £41,000, this would mean an increase in income tax of £1,170. Compared to an average council tax per dwelling of £980, this would leave the couple over £260 worse off under Lib Dem plans.
The Alternatives
Michael Howard introduced the Poll Tax.
Under the Tories, unemployment increased by over 1 million and interest rates were at 15 per cent for a year.
The Lib Dems have pledged to axe the New Deal including the New Deal for young people, the disabled, lone parents and the over 50s.
The Lib Dems called increases in the national minimum wage dangerous.