It’s taking time, but the economy is healing.
It’s a hard road, but we’re getting there. Britain is on the right track – turning back now would be a disaster. Labour’s plans to borrow even more would take us back to the economic mess they created.
We are making progress.
The deficit has fallen by a quarter in just two years, exports to emerging markets have doubled and 1.2 million new jobs have been created in the private sector. We are doing better than many of our international competitors - next year the UK is predicted to grow faster than France or Germany.
However the economic is situation is tough.
We are dealing with the legacy of a decade of debt. Recession in the eurozone and a lack of global confidence have also contributed to lower growth forecasts.
As a result, it will take four years, not three to get our debt falling.
But we will stick to our spending plans. By making savings from bureaucracy, and by asking more both from those on benefits and the better off, we are doing more to improve help families and back businesses.
Across the North East:
· 10,000 people will be out of income tax and 961,000 to pay less tax as a result of the Conservative-led Government’s reforms.
· Cancelling Labour’s planned rise in fuel duty in January will reduce running costs, saving drivers £40 a year.
· £64 million upgrade on the A1.
· £17 million to return over 1500 existing homes that are currently empty to use.
· The Conservative-led Government will give councils that money to freeze council tax in 2013-14.
· Business support measures will benefit 130,000 small and medium enterprises in the North East.