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Barely minutes after the Chancellor sat down after completing his budget statement, Labour’s flagship soundbite was launched. ‘Fourteen wasted years’ is the bumper sticker likely to be repeated – endlessly as the election looms closer. This device conveniently glosses over the thumping geopolitical challenges that shaped our tenure and necessitated a colossal state intervention not seen in generations.
This narrative deliberately avoids placing into context the spike in inflation and the cost-of-living crisis as well as what has actually been achieved over the last fourteen years.
Conservatives navigated Britain through the most severe global pandemic since 1920. It cost over £400billion to safeguard our economy and ensure the vaccination of our populace. And we contended with the gravest conflict in Europe since World War II, affecting both continental security and the economy. Global oil prices surged by 11 per cent, UK wholesale gas prices by 40 per cent and food prices by 19 per cent due to disruptions in Ukraine’s grain-critical exports.
Simply put, it cost an additional £600billion to protect Britain (about half pre-pandemic spending) that no Government of any political hue would have anticipated facing – placing greater stress on all Government budgets across Whitehall.
Does Labour really want to go down that road? Let’s remind ourselves of the situation we inherited in 2010 summed up by Labour’s infamous note left on a desk in the Treasury. “Dear Chief Secretary, I’m afraid there is no money. Kind regards – and good luck!’ When Labour left office, the national debt was ballooning, unemployment was higher than when they entered office, and they were overspending £150billion as the deficit spun out of control. Rightly, Labour would point to the 2008 Global financial crisis. Which makes my point about the importance of contextualising our economic journey.
Tobias Ellwood
PA
Look a little deeper and there’s a real Conservative success story to be told across Government. Investments in education have increased our standing in international league tables, thanks to initiatives such as the rollout of free schools and academies, pupil premiums, and free school meals. Welfare reforms have led to a system that is simpler, fairer, and better targeted, complemented by significant increases in free childcare hours.
Our healthcare sector is witnessing a renaissance of new hospitals and upgrades in existing infrastructure.
An additional 42,000 doctors and 72,000 nurses are part of our broader strategy to enhance NHS staffing levels and improve patient care.
Our green economy agenda is world-beating – the fastest de-carbonisation of any major economy and the first to legislate for a net-zero target and have built the largest offshore wind farm in the world.
Thanks to targeted tax breaks and investment incentives we now boast the 3rd largest global tech sector.
LATEST DEVELOPMENTS:
Rishi SunakPAWe are world leaders in pharmaceuticals, life sciences, quantum computing, AI and aerospace. Not to mention Fintech and financial services. Backed up by some of the best universities in the world.
Crime rates are now falling, police numbers rising, and new prisons are now opening. Significant investments in defence and security, including the expansion of our surface fleet and the formation of the National Security Council, underscore our commitment to national and global security. We’ve hosted Nato and G7 summits and spent over £12billion supporting Ukraine – pushing the international envelope on the quality and quantity of equipment the West has gifted. And we did not flinch standing firm with America as we defend safe maritime passage in the Red Sea.
So please don’t say it’s been fourteen wasted years. That’s an insult to the British people. It’s been challenging and not without moments of frustration. Had Labour been in office (without the benefit of hindsight) would they have fared any better bearing in mind Jeremy Corbyn would have been at the helm – for some of that time?
With inflation falling towards to 2 per cent wages rising, business confidence rebounding, and the UK’s economic growth outpacing most G7 countries the resilience and progress demonstrated by Conservative governance continues to be overlooked.
For here is the rub. As global storm clouds gather and our world becomes ever more contested and fragmented, we face even more testing times ahead with increased threats to our Global Order. Looking forward, the big question for the electorate is who is therefore best placed to strengthen our economy, to navigate us through further global shocks and lead our country?
Conservatives, without doubt, have the competence – we should have more confidence in defending our record, promoting our achievements during these difficult times, and exhibiting a collective sense of purpose to govern. Otherwise Labour’s bumper sticker will begin to resonate.
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