News

Tory Record on the Economy

(September 30, 2013)

 Cost of living

• Prices have risen faster than wages in 38 out of 39 months while David Cameron has been Prime Minister.

• Wages are down by almost £1,500 a year since the General Election. • While ordinary people are seeing their living standards squeezed David Cameron has

cut income tax for people earning over £150,000.

• In April this year, bankers’ bonuses soared by 82% as the wealthiest took advantage of the 50p tax cut.

Growth

• This is the slowest recovery for 100 years. • Since Autumn 2010 our economy has grown by just 1.7% compared to the 6.9%

expected at the time.

• The UK is currently 3.3% below its pre-crisis peak, while the USA is 4.6% above its pre-crisis peak.

The deficit

• David Cameron and George Osborne are now set to borrow £245 billion more than they planned in 2010.

• The independent Office for Budget Responsibility says that deficit reduction has “stalled”.

GE15 - Osborne Economy

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