Securing the Recovery - Not Putting It At Risk
Issue- Labour will secure the recovery - not put it at risk.
Key points
- The economy is still recovering so we must maintain our support - not choke off recovery by cutting support now. The IMF, the CBI and the IFS have all warned against immediate cuts, but that is precisely what George Osborne would do.
- When the recovery is secured, we will halve the deficit by 2013-14. This is the sharpest reduction in the budget deficit for any G7 country, and we are the only party to have set out a comprehensive plan. We will do it through growth, fair tax increases and tough choices on public spending.
- The Tories refuse to say how fast they would cut the deficit. If they were to halve it just one year faster, it would be equivalent to cutting half the schools budget or putting VAT up to 23 per cent.
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