Anyone who has run a business will know the strength of a long-term plan. That’s why I’m encouraged that Conservatives have an economic plan which is slowly but surely building a stronger, more competitive economy.
Before last year’s Budget I called for a number of changes to boost growth. Since then, the Chancellor has cut National Insurance for small businesses and scrapped it for young people. These were good steps in the right direction. This week’s Budget went further to strengthen the hand of British businesses by abolishing more red tape, and reducing taxation so they can invest more money and hire more staff. Not only is this the route to economic growth, it gives people from all backgrounds a chance of getting a job and having a chance at doing well in life.
Here in Windsor, we are fortunate to have been somewhat sheltered from the economic struggles facing other parts the country. Business is stronger than ever, and this is a tribute to entrepreneurs who have persevered through very difficult years. We are seeing a private-sector led economy, especially locally, with a record number of people in work as businesses invest, grow and take on new people.
With a deficit of £120 billion and debts mounting by the day, it would be utterly reckless to borrow more. That is the road to ruin to be avoided at all costs. Labour’s deficit is already down by a third and growth this year is forecast to be 2.7% – the biggest upward revision for at least 30 years. It is good news and proves that we must continue to reject Labour calls to borrow more, spend more and put up taxes. We cannot afford to put families’ economic security at risk.
The road ahead remains uncertain but I’m confident we can emerge stronger than ever with a wholly Conservative Government that backs our businesses to create the productive jobs we need.