National News

Labour’s spending plans contain a black hole of up to £28 billion, according to analysis from a think tank favoured by Ed Miliband.

The IPPR, considered Labour’s favourite think tank, analysed Labour’s spending plans and found that most of Labour’s planned tax rises would do nothing to reduce the deficit – as Labour have already spent the money elsewhere.

The money from Labour’s planned tax on the family home, for instance, has already been committed – as have the proceeds of their plan to abolish the tax allowance for married couples.

The report from the think tank makes clear that Labour will have to raise up to £28 billion to fill the black hole at the heart of the plans - “through a combination of cuts to departmental spending, cuts to welfare and tax rises.”

This independent analysis confirms what we’ve known all along – that a Labour government would mean higher taxes, more debt and a stalled economy.

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Labour’s planned homes tax would hit hardworking families.

That’s the verdict of Labour MP Tessa Jowell: ‘Let’s stop calling it a “mansion tax” – these are not mansions, these are family homes’ (New Statesman, 20 Oct 2014, link).

And Jowell isn’t the only Labour politician to criticise Ed Miliband’s latest tax:

  • 'It will impact disastrously on people… particularly pensioners' – Glenda Jackson, Labour MP (Ham&High, 2 Oct 2014, link)
  • 'It is misconceived… what it does is create a cliff edge' – Nick Raynsford, Labour MP (Daily Telegraph, 20 Oct 2014, link)
  • 'A hopeless and desperate idea' – Lord Noon, Labour Peer (Sunday Times, 5 Oct 2014, link)

Labour said only the ‘most wealthy’ would pay their homes tax – but now Ed Balls says that everyone who earns £42,000 or more will have to pay up front.

Labour said pensioners would be protected – but now Ed Balls says pensioners will have to pay the tax after they die.

Labour said only homes worth £2 million would be hit – but already a senior Labour figure has said that homes worth £400,000 in the North of England should be taxed (Claire Reynolds, Sunday Express, 10 Aug 2014, link).

It’s clear that hardworking families across the country would be hit by Labour’s homes tax.

And it’s clearer than ever that a Labour government would mean a return to higher taxes, more debt, and a stalled economy.

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We will deliver 3 million more apprenticeships over the next Parliament.

Apprenticeships give people the hope and opportunity to fulfil their potential and get on in life.

In just four years we’ve already doubled the number of apprenticeships, delivering more than 1.8 million. In the next Parliament we will go even further by creating 3 million more and ending youth unemployment – so all young people get a good start in life.

Our commitment to deliver more apprenticeships is only possible because we’re reducing the benefits cap and restricting housing benefit for 18-21-year-olds – so the welfare system doesn’t trap young people in a culture of dependency.

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Delivering the best skills for young people is a key part of our long-term economic plan. With the Conservatives, more people than ever will benefit from an apprenticeship – so they can secure a better future for themselves and for Britain.

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We’re making Britain a safer place to live, work and raise a family.

New figures show that crime has fallen by more than a fifth since we came to power.

Our action plan to cut crime is working. This year there were 2.3 million fewer crimes than the year before the last election – including:

  • 413,000 fewer violent crimes
  • 160,000 fewer home burglaries
  • 290,000 fewer vehicle crimes

Our plan is cutting crime by:

  • Freeing the police to fight crime by cutting red tape and scrapping unnecessary targets
  • Giving criminals tougher sentences so communities are protected and justice is done
  • Giving the police the powers they need to tackle criminals, using the latest tools and techniques
  • Stopping people from becoming criminals by tackling the root causes of crime
  • Making the police answer to the community to help drive down crime in your area

Thanks to our plan and the hard work of police officers, crime is falling, families are safer, and communities can enjoy a better, more secure future.

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Over the last year unemployment is down by 538,000 – the biggest fall since records began.

New figures by the Office for National Statistics also show:

  1. More people in work than ever before, including a record number of women in work – since 2010, there are 1.7 million more people in work with the security of a pay packet
  2. Youth unemployment down by 253,000 over the last year – the largest annual fall since records began
  3. The biggest fall in unemployment over the last year in the G7 – Britain is outperforming all other major advanced economies
  4. 542,000 fewer people claiming Jobseeker’s Allowance – more people getting off benefits and into work
  5. 1.3 million of the jobs created have been full-time – that’s three-quarters of all new jobs

Our long-term economic plan is working – as these figures show – but there’s still a lot to do and there are risks in the global economy that could threaten Britain.

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The biggest threat to the recovery is Labour. They left half-a-million more people out of work when they were last in power, and their plans for ineffective spending, more borrowing and higher taxes would cost jobs and put the security of Britain’s future at risk.

That’s why we need to keep the plan going – to help even more people find a job and look forward to a better future.

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For the fifth year in a row, we’re increasing the state pension.

Next year pensions will go up by 2.5% – more than twice the rate of inflation – giving pensioners more security in retirement.

Our triple lock ensures the state pension rises every year in line with wages, prices or by 2.5% – whichever is highest.

Since 2010, we’ve increased the state pension by £800 and are committed to keeping the triple lock beyond the next election.

But that’s only possible because we’re taking difficult decisions as part of our long-term economic plan.

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The Conservatives are on the side of people who have worked hard, saved hard and done the right thing.

We believe that people who have worked hard and saved all their lives should be free to choose what they do with their money.

That’s why we’re giving pensioners more freedom over their pension pot.

From next year you will be able to access as much or as little of your defined contribution pension as you want, and you will be able to pass on a hard earned pension to your family tax free.

And we are going even further – you will be able to choose to take a number of smaller lump sums, instead of one single big lump sum.

This is the most radical reform to how people access their pension in almost a century.

And it means more economic security and independence to help you plan for a better future.

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A good education is vital for a better future.

That’s why our long-term economic plan is delivering better schools by:

  • Restoring rigour to the curriculum
  • Toughening up exams
  • Creating more good local schools, with 800,000 more children in good or outstanding schools than in 2010

And now we’re going further. To overhaul a small but stubborn minority of failing schools, we’re giving powers to school commissioners who already oversee successful schools. They will have the power to remove failing head teachers, pair up failing schools with good ones, and change the curriculum if it isn’t up to scratch.

These changes will help transform failing schools and give parents peace of mind that their child will receive a better education, reach their potential and get on in life.

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Britain will be the fastest-growing major advanced economy in the world this year.

That’s the verdict of the International Monetary Fund (IMF) and it confirms that our long-term economic plan is working.

A growing economy is vital for creating jobs and giving people the financial security of a pay packet.

And that’s what our plan is helping deliver. In just four years we’ve:

  • Helped 1.8 million more people get into work – so people can provide for themselves and their families
  • Cut income tax for more than 25 million people – so hardworking taxpayers are more financially secure
  • Reduced the deficit by over a third – so we can safeguard the economy for the long term

But as the IMF also says, there are risks to the recovery. That’s why we must keep working through the plan – to build a stronger, healthier economy and secure a better future for Britain.

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