Tackling the economy

23/04/10

Every Labour government has left office with unemployment higher. Today it is the same old story. In Wales 1 in 5 young people under 25 have never had a job and with an ageing population, we need the highest levels of employment to fund the public services on which we all depend. We can’t go on like this.

A Conservative government will take three key steps to rebuild our broken economy:
First, we still face a credit crunch. We need to get banks lending again. For over a year, we have been calling for a National Loan Guarantee Scheme to underwrite bank lending to businesses.
Second, we face a debt crisis. We have been honest about the need to tackle Labour’s debt crisis, and set out some of the tough choices we will make.
Third, we face a jobs crisis. So we need a plan for growth. We will abolish all tax on jobs created by new companies for two years.

Jonathan Evans, Conservative Candidate, said “Unlike Gordon Brown’s Labour Party, the Conservatives have been honest about the scale of Labour’s debt crisis and have set out some of the tough measures we will take to tackle the deficit. These measures could all be implemented without harming frontline public services, and show how the burden of dealing with Labour’s debt crisis should be shared fairly.”

The people of Cardiff have actually got poorer over the past 5 years with average take-home pay falling and set to fall even further in the next year. Increasing numbers of local businesses are also going under.

To help struggling families and businesses we will:
Freeze Council Tax for two years.
Any new business started in the first two years of a Conservative Government will pay no Employer National Insurance on the first ten employees it hires during its first year.
Taking 9 out of 10 first-time buyers out of Stamp Duty by raising their threshold to £250,000.
Reduce Corporation Tax, and tax on Small and Medium sized Businesses.
We will end restrictions on people starting a business in social housing, to enable social tenants to become entrepreneurs.