The Economy

Debate between Baroness Blackwood of North Oxford and Priti Patel

Wednesday 26th November 2014 Commons Chamber

[Priti Patel]

My hon. Friend is absolutely right, and that is, of course, the objective of this Government: we want to support and give a helping hand to the young in particular, as they start out in their careers and professional lives.

[Nicola Blackwood (Oxford West and Abingdon) (Con)]

Unemployment has fallen by 66% in my constituency since 2010, but the businesses who are creating these jobs tell me that cutting red tape is a priority for them if this growth is to continue. Can my hon. Friend explain why the Opposition will not commit to our one in, two out deregulation target?

[Priti Patel]

The Labour party created even more red tape, regulatory burden and excessive regulation on business, and I commend my hon. Friend and the businesses in her constituency on everything they are doing on job creation.

Britain tumbled down the international league tables under the Labour Government: from 11th to 23rd in the world in terms of our corporate tax regime; out of the top 10 in the global competitiveness league; and out of the top 10 in terms of the ease of starting a business and doing business—we were level pegging with Mongolia on that. Levels of Government spending under Labour were catastrophically higher than we could afford. We had the most over-indebted banks and households, and we were on course for having the biggest budget deficit of any major economy in the world.

The British public are still experiencing the impacts of the Labour Government’s economic policies but, rather than coming to the House to apologise for the economic carnage that they created, Labour Members have the audacity to come here today and ask us why we are not clearing up their mess quickly enough. I think we all know that the past four years have been hard, and we cannot magic up a better standard of living from the economic carnage that we inherited. The only way to deliver for people up and down the country is to put in place a lasting, sustainable and healthy recovery.