This Government has a credible plan to rescue our economy from the mess Labour left behind. This plan has won the confidence of the financial markets, ensuring interest rates stay low and keeping Britain out of the global debt storm.
The damage done by the crisis was greater than anyone thought. Abroad, the Eurozone remains in extreme trouble. At home, we inherited an economy built on the sands of debt. We have set out to change our economy and we are doing so.
Five facts on the economy
Over the last two years, this Government has cut the record budget deficit it inherited from Labour by a quarter.
Since the general election, the private sector has created over 800,000 new jobs – two new jobs for every one job lost in the public sector.
Our borrowing costs have fallen to record lows, showing that UK government debt is seen as a safe haven in the global debt storm and saving money for taxpayers, businesses and families.
Over the past year businesses have invested £117 billion across the economy, up £1 billion on the year before.
The Government’s necessary deficit reduction plan has maintained Britain’s AAA credit rating, which Labour’s plans would put in danger.