Please read and share this article by Sajid Javid to remind friends that Labour just arent up to managing the economy: Cutting the deficit is not just an economic exercise. It’s a moral task that Labour just aren’t up to. It was Margaret Thatcher who said: We in politics are in the business of planting trees for our children and grandchildren or we have no business being in politics at all. She was right. There is no greater purpose in politics than leaving our children something better than we ourselves have known. That’s why we’re delivering better schools and skills, so the next generation can succeed in the global race. That’s why we’re creating more jobs by backing business and enterprise, so our children get to enjoy the security that comes with a regular wage packet. And that’s why we’re cutting the deficit, so mortgage rates are kept low and our economy is safe for the future. The economic case for deficit reduction is overwhelming. More borrowing would mean less confidence in our economy and spiralling mortgage rates, which hit ordinary, lower and middle income families harder than anyone. So if we don’t continue to get the deficit down, then the hard-won economic gains we’ve seen so far would be squandered and our homes and financial security are at risk. For this generation and the next. But not everyone agrees. The Labour Party doesn’t agree. Spending and borrowing run through Labour like the words in a stick of rock. Britain is still picking up the pieces from the mess they left behind the last time round. Labour ran a deficit throughout the boom years and by the time this Government came to power we were spending £157 billion more a year than we were taking in through taxation. Thanks to Labour, the UK entered the financial crisis with the biggest structural deficit in the G7. And it was hardworking taxpayers who suffered as a consequence. But Labour still haven’t learnt their lesson. They are still planning to spend more and borrow more if they are elected. They’ve put up sustained opposition to almost every cut this Government has made. Ed Miliband confidently predicted that our deficit reduction programme would lead to the disappearance of a million jobs. Instead over 1.8 million more people are now in work. But it’s their policies for the future that are the greatest threat to Britain. While the Conservative Party has committed to running an absolute budget surplus in the next Parliament, Ed Miliband only promises to run a surplus on day-to-day spending – which allows him to borrow even more money to spend on things like welfare. They are desperate to sound like they will eradicate the deficit, without actually having a plan to do so. And this fudge comes with a price tag. The Treasury have looked at the effect of a current budget balance – which is the same as Labour’s policy. This analysis shows that in 21 years’ time, Labour would still be running a deficit of £24 billion in today’s money. Under their plans, debt would be £500 billion higher in 21 years’ time. For every child in Britain today that is equivalent to an extra £35,000 of debt on each of their heads. That’s no inheritance to pass on to the next generation, and no example to our children of how to do the right thing. So the choice at the next election could not be clearer. Our long-term economic plan is building a Britain that is financially secure – we’ve already cut the deficit by more than a third and created jobs at the same time. Labour would put the economic security of our children at risk.
Posted on: Wed, 06 Aug 2014 14:44:56 +0000
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