Economic stats show signs of the UK economy turning the corner

The independent Office for National Statistics released job statistics this week which show real wages have grown for the tenth consecutive month, a wages finally start to outpace prices, putting more money in people’s pockets.

  • We have made progress on our priorities, and in particular have delivered on the PM's promise to halve inflation, which has fallen from 11.1 per cent to 3.2 per cent. We are also making progress on the promise to grow the economy which is beginning to  bounce  back and grew by 0.6 per cent in the first quarter of 2024. 
  • This week’s statistics show that real wages have grown again for the tenth month in a row, with regular wages growing by 6.0 per cent in the past quarter compared with a year before, outpacing inflation at 3.2 per cent. The figures also show there are nearly four million more people in work since 2010 and economic inactivity is lower than any point under the last Labour government.
  • Whilst there is more to do, today’s news shows we must stick to the plan. Inflation down. Wages up. Unemployment down. Growth up. Taxes cut. The risk to our progress is Keir Starmer and the Labour Party who can’t say what they would do because they don’t have a plan. That means they’d do what Labour always do and increase unemployment and tax you more. This would take the country back to square one.

Comments

Post a Comment

Popular posts from this blog

Nick Herbert on his visit to flood hit areas of Cumbria

Please note that the post below was published more than ten year ago on 21st November 2009 Nick Herbert MP, shadow cabinet member for the Environment, Food, and Rural Affairs, was in Cumbria this morning to see the areas affected by the flooding. He writes on Conservative Home about his visit. Here is an extract. I’ve been in Cumbria today to see the areas affected by the floods. I arrived early in Keswick where I met officials from the Environment Agency. Although the river levels had fallen considerably and homes were no longer flooded, the damage to homes had been done. And the water which had got into houses wasn’t just from the river – it was foul water which had risen from the drains. I talked to fire crews who were pumping flood water back into the river, and discovered that they were from Tyne & Wear and Lancashire. They had been called in at an hours’ notice and had been working on the scene ever since, staying at a local hotel. You cannot fail to be impressed by the...
Read more

Quotes of the day 19th August 2020

Image
"Wise men profit more from fools than fools from wise men; for the wise men shun the mistakes of fools, but fools do not imitate the successes of the wise."  ( Cato the Elder , who lived 234 BC - 149 BC, quoted in "Lives" by Plutarch.) There is a similar saying by Germany's Iron Chancellor, Otto von Bismarck: Benjamin Franklin is supposed to have put the same saying in a more humorous form: "Wise men profit by the mistakes of others, while fools will not learn even from their own blunders." See also this thread on the "Quote Investigator" website . Let us all be wise and learn from the events of the last few days.
Read more

Quote of the day 24th July 2020

I was moved to put the passage below forward as a quote today when I saw a horrible post on twitter from someone writing that it was "excellent" that someone who took a different view from her about Brexit had died. I won't write which way round it was so that all the Remain supporters can assume the post was from a Brexit fanatic welcoming the death of a remainer and all the Leavers can assume it was a Remainiac welcoming one less Brexiteer. There's been plenty of nasty stuff on both sides but if you catch anyone of your own viewpoint  posting something like that who might listen to you, please do call them out on it - and point out that they're giving everyone on your side of the argument a bad name. Anyway, here's the quote from John Donne.
Read more