Spencer Drury: major milestone in our economic plan means a brighter future for families in Eltham

Spencer has welcomed new figures showing the British economy is now above its pre-crisis peak, after Labour’s Great Recession saw the economy shrink by 7.2 per cent.

 

The economy grew by 0.8 per cent in Q2 2014, up 3.1 per cent on the same period last year.

 

This continuing growth means there are more businesses, creating more jobs, so that more families can have the security of a regular pay packet and the peace of mind for the future that brings.

 

Local signs of growth include the creation of a new micro-pub on Westmount Road and the investment by Colfe’s School in a new teaching block.

 

Spencer said:

 

“Thanks to the hard work of people in Eltham and across Britain the economy is now above its pre-crisis peak - a major milestone in the Conservatives’ long-term economic plan. It means more businesses, creating more jobs, so families can look forward to a brighter, more secure future.

“But there is still a long way to go. The Great Recession was one of the deepest of any major economy and cost Britain six years, hitting people in Eltham hard.

 

“Now we owe it to hardworking taxpayers not to repeat the mistakes of the past and instead to stick with the plan that is delivering economic security and a brighter future for all.”

 

Key statistics

 

Ø    GDP grew by 0.8 per cent in the second quarter - this means that the UK economy is now 0.2 per cent above its pre-crisis peak, after Labour’s Great Recession shrank the economy by 7.2 per cent. Since the beginning of 2010 the economy has grown by 6.9 per cent, faster than France or Japan and three times as fast as the Eurozone.

 

Ø    Recently the IMF confirmed that Britain will be the fastest growing economy in the G7 in 2014 – evidence our long-term economic plan is building a stronger economy for Britain.

 

Ø    The deficit has been cut by more than a third – helping us to deal with our debts, safeguard our economy for the long-term and keeping mortgage rates low.

 

Ø    Businesses have created over two million new jobs – providing more people with the security and stability of work.

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