Economic Plans

UK GDP only grew by 0.2% in the first quarter of 2010, lagging behind the predicted 0.4% growth rate widely expected by many. This minute growth shows that we are far from being out of woods where economic growth is concerned. This country now needs strong economic strategies to increase the growth and to prevent a further dip back into recession.

At present, the country’s deficit is some £167 billion this year. In 1997 when Labour came to power our national debt stood at £350 billion – today it has more than doubled and stands at £776 billion with interest rising at a rate of £5,000 per second. Frightening figures to say the least!

As we enter the last days before the General Election on 6th May, we need to be considering the main issues that any future Government must address:-

• This country currently has a high unproductive public sector with high finance leaks and little accountability;

• This country currently has a small wealth-generating private sector which constantly has its hands tied by taxation;

• This country has an aging population, which will only increase, who are struggling to survive on low pensions forcing many onto the poverty line;

• This country has a million unemployed youngsters who feel despondent about their futures and are empathic to the political arena as politicians fail to engage with them.

The future of this country is very much dictated by implementing the correct economic policies that will not only see us through the current economic climate but also steer us into a brighter and more stable growth pattern.

Our political parties now need to define clearly their strategies and plans for this future growth to ensure that the voters can make an informed decision when casting their votes.

Labour have failed to give a clear and workable recovery plan to date – it would appear that their policy is more of the same which has clearly not worked.

Conservatives sprout figures convincingly but do seem to be relying on huge cuts in public spending – let’s hope this does not mean poorer service levels across the board. They have also failed to see the advantages of tax increases and closing of tax loopholes that only benefit the wealthy within our country.

Liberal Democrats seem determined to trash the pound and join the Euro. As Greece tips over into bankruptcy their economic situation can only have a negative effect on the Euro. Timing for the Liberal Democrats could not be worse as entering the Euro at the present time can only spell disaster for our fragile economy.

Let’s stop the chat and the bickering and see some strong and workable economic policies that will nurture our economy and see the national debt decrease and confidence increase.