Wednesday 24 March 2010

Colchester welcomes Labour's Budget

Colchester' Labour Candidate, Jordan Newell, has welcomed the Chancellor’s Budget Statement. A Budget that will secure Britain's economic recovery, rather than put it at risk.

Jordan said:

“This Budget secures the recovery – rather than putting it at risk. It builds a future based on growth and jobs – rather than leaving people to a decade of austerity. It sets out a clear plan to halve the deficit while protecting frontline services. The Conservatives refuse to match our pledge and continue to conceal their plan."

Labour's first commitment is to securing the recovery. But because of the action we have taken the rate of home repossessions is half what it was in the 1990’s, the number of business failure is half what it was in the 1990’s; Interest rates are at record lows, less than 1%, compared to double figures in the 1990’s and around 440,000 families have received an increase in tax credits worth on average £38 a week.

If Labour had taken the approach the Conservatives did in the last recession, four times as many jobs would have disappeared.

“Will Quince and Colchester's Tories must say how they would meet the challenge that we have set in this Budget. How much would the Tories cut from spending in 2010/11? How quickly would the Tories halve the deficit? Mr Quince won’t say.”