Labour MPs will use this week’s recess to show there is a better way – a five point plan for jobs

Britain faces an economic emergency, but out of touch ministers are just sitting on their hands and blaming everybody but themselves.

David Cameron might be glad there won’t be Prime Minister’s Questions on the day of the unemployment figures this Wednesday, but we will not let this Government off the hook for the economic mistakes they are making. 

Families and pensioners feeling the squeeze, young people out of work and businesses on the edge are crying out for a better way. During the House of Commons recess this week Labour MPs will be in every part of the country showing that there is an alternative – a five point plan for jobs – that will get Britain back to work and help get our deficit down too.

Of course what is happening in Italy and the eurozone will have a serious impact on our economy if it remains unresolved. But David Cameron and George Osborne need to understand that our recovery was choked off a year ago, and unemployment started rising again, well before the eurozone crisis of recent months. By reckless cutting spending and raising taxes too far and too fast our economy has now flatlined for a year, leaving us badly exposed as this eurozone crisis deepens. 

The government also needs to realise that slow growth and more people out of work, claiming benefits rather than paying taxes, means borrowing more money. In fact the Chancellor is already set to borrow £46 billion more than he planned because his policies aren’t working. 

That’s why we need to build a better economy for the future and Labour’s five point jobs plan to help struggling families, get young people into work, support small businesses and so get the deficit down.

Labour’s five-point plan for jobs:

1. A £2 billion tax on bank bonuses to fund 100,000 jobs for young people – which they would be required to take-up – and build 25,000 more affordable homes. 

2. Bringing forward long-term investment projects – schools, roads and transport – to get people back to work and strengthen our economy for the future.

3. Reversing January’s damaging VAT rise now for a temporary period – a £450 boost for a couple with children – immediate help for our high streets and for struggling families and pensioners.

4. A one year cut in VAT to 5% on home improvements, repairs and maintenance – to help homeowners and small businesses.

5. A one year national insurance tax break for every small firm which takes on extra workers – helping small businesses to grow and create jobs.

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Posted November 12th, 2011 by Ed