Welcome news on the economy

The ONS announced this morning that the economy grew in the last quarter by 1%. This not only marks the end of the recession, but is particularly welcome because these are the best growth figures since Quarter 3 2007, just before the worst of the financial crisis hit Britain.

We’ve seen welcome news in the production industries, with estimated growth of 1.1%. This sector is of vital importance considering our plan to rebalance the economy and get Britain making things again, and is hugely important here in Amber Valley, with many local firms making and exporting goods to other countries.

Last week brought us good news on jobs, with record employment, consistently falling unemployment figures for six months and one million jobs created in the private sector since 2010 alone. All this, alongside the fact that we’ve cut the structural deficit by a quarter, means that the economy is healing.

Challenges remain with the Eurozone problems, slowing growth in China, and the remainder of the structural deficit and debt levels, but this Government is doing all it can to help, and I intend to continue to do all I can here in Amber Valley to support businesses trying to create jobs for local people.