January is traditionally the month when we all feel the pinch as we recover from Christmas: but this year the expected pinch is less severe as we all begin to feel the benefits sustained economic recovery can bring. For the Conservatives long term economic plan is clearly working.
George Osborne recently announced that, “inflation is at its lowest level in modern times’ and noted that unlike the recent deflation in the Eurozone, the effects of which are still being felt, the UK economy is growing and the rate of growth is speeding up. This has ensured that South Derbyshire families will now feel more money in their pockets as the cost of food, clothing and petrol continues to fall whilst cheaper mortgages can be sustained with interest rates which will continue to be low for some time to come.
Of course falling oil prices have had a huge impact on the rate of inflation resulting in in much lower petrol prices: prices which we now expect will not, for the foreseeable future, rise again to the punitive levels of recent years.
In addition to this good news wages for British workers are beginning to rise at a faster rate than inflation: a direct consequence of the stable, balanced economic growth which followed the adoption of new policies after Labour’s catastrophic failure to manage the economy before 2010.
Low inflation will also continue to help our businesses to borrow to invest in growing their operations, employing more staff and improving productivity. This will, in turn, continue to push wage increases and raise Britain's competitiveness in the global economy.
And as inflation falls and economic growth accelerates the numbers in employment continue to rise month on month - with the latest figures in South Derbyshire showing only 517 people claiming Jobseekers Allowance.
This strengthening of the economy is clear evidence of George Osborne’s safe handling of our finances. With the Conservatives in Government after the General Election the same steady, business-like approach will lead to more jobs, higher wages and ultimately tax cuts: a permanent aim of the Conservatives.
Mark Carney, the independent Governor of the Bank of England, has also endorsed these figures and supported the Chancellor’s handling of the UK economy. Our inflation is low, stable and predictable which means that the UK economy is in a robust position in its continued recovery. Similarly Christine Lagarde, Head of the International Monetary Fund, which monitors economies across the globe, has given the UK economy a ringing endorsement stating that other countries should look to the UK as an example. What a turn around since 2010!
Conservatives will continue to work to safeguard our future and that of our children. We want to ensure there are jobs for all, work always pays and people are able to keep as much of their own money as possible: a policy which is completely alien to Labour party thinking.
Over the course of this Government we have also changed pension regulations to allow you to have full access and control of your money: we saw that annuities were not working for most people and have, therefore, made radical changes, to give more choice to all at retirement.
So let us be clear: only the Conservatives offer policies which will ensure that our economy will continue to grow and enable us to develop a stronger educational system and support further the NHS, our world renowned health system …and only the conservatives will continue to reform the benefits system to ensure that our vulnerable are protected and ensure that those who can work do.