UK plc growth figures are good news for Calder Valley
The economy is in the news again and it is great to see the benefits that are being felt right across the Calder Valley as a result of the economic plan we have as a country.
I often say in these pages that as far as our businesses and manufacturers in the Calder Valley are concerned, we punch well above our weight. The latest unemployment figures are further evidence of this with the Calder Valley now well below what it was in 2010.
Still some way to go at three per cent, but we are back to below where we were when the economic crisis started. Before the cynics say that they are all part-time jobs, this is not the case. The mix between full time and part time vacancies is the same as it has been for the past decade at approxi- mately 75 per cent full time and 25 per cent part time. Further good news is that we now have more people employed nationally than we ever have in our history at just over 30m people.
On the economic front our growth figures have been raised so UK plc now has the strongest growth forecast of many of our major global competitors. Stronger than the U.S. and even stronger than that of Germany. More evidence the Chancellor’s long term economic plan is working. Remember those who said a million jobs will be lost? Good to see those who put us in the dire mess we have had to endure are wrong again.
The good news just doesn’t stop there though. For the first time in five years we also see wages rising at a faster rate than inflation. Top that with tax savings, with the £10,000 (£10,500 next year) personal allowance threshold, the burden is starting to ease in people’s pockets.
We can’t be complacent however as we still have a long way to go. We need to keep driving the economic plan forward to ensure that we balance the books and then start paying down the horrendous amount of debt that we have been left. Never again should our country be put in the position which we were in by any government who thinks spending their way out of recession is the right way to go. George Osborne’s long term economic plan is working and is absolutely the right path to tread.