Today’s figures confirm that the
recovery is on track and our plan is building a stronger, healthier economy,
protecting Britain from the economic storm, with the fastest growth of any
major economy in 2014.
That means more businesses,
creating more jobs, and more people with the security of a wage to provide for
their families. It means we can afford to cut the deficit while investing in
the things that matter to hardworking families: schools, frontline health
services and apprenticeships so young people can get on in life.
But the international climate is
getting worse. With 100 days to go until the election, now is not the time to
abandon our plan and return Britain to economic chaos.
Key statistics
·
The economy grew by 0.5 per cent in Q4 2014,
following 0.7 per cent growth in Q3 – this is the first time the economy has
grown for 8 quarters consecutively since the crisis.
·
The economy has grown by 2.6 per cent in 2014 –
the best year since 2007.
·
The economy is now 3.4 per cent above its
pre-recession peak.
·
This confirms the IMF forecast that we were
fastest growing G7 economy in 2014.
This builds on other recent good
economic news:
·
The IMF and OECD forecast the UK to grow at the
fastest rate in the G7 in 2014.
