Review of the economy shows surge in investment, orders and jobs

Great evidence of the revival of the British economy this week:

Car sales are up 11%, and the British Chamber of Commerce has this week released its Q4 survey showing a startling surge in investment, orders and employment. You can read it HERE

Good news for our plan for a ‘balanced’ recovery: manufacturers’ capacity use, and confidence are at the highest since the survey began in 1988. The upshot, as Citibank have commented, is that the UK economy will likely grow far faster this year than Osborne’s cautious official expectation. He will most likely have another healthy upgrade to announce in his next budget; growth of more than 3 per cent this year is expected with massive consequences for jobs.

Momentum building on our campaign to raise the minimum wage

Regular readers will know that I have long campaigned for a voluntary living wage and an enhanced minimum wage.

I am pleased that as the economy recovers the ability to address the minimum wage becomes ever more likely. Yesterday my colleague at Treasury, the minister Sajid Javid said there is a ‘strong case to look at’ raising the minimum wage, joining Matt Hancock's long campaign support on this issue; this is an issue that even right wingers have changed upon. For example, on Newsnight Mark Reckless, the right-wing Tory MP told the programme that he had been wrong to oppose it previously and that it would be a good thing:

‘I would 10 years ago have said no to [an increase in the minimum wage] for the same reason I opposed it, which is because I was concerned it was going to cost jobs. I think the evidence has not borne that out as much as was fit and I think two very important things have changed, and that is one it would actually save the taxpayers’ money because of the extent to which the taxpayer is topping up low wages through tax credits.’

I will continue to make the case to the Chancellor that this is something he is now able to do in the next Budget, as the economy recovers, and in harmony with the ever increasing voluntary sign up to the Living Wage.

France's failed socialist experiment is turning into tragedy

Yesterday, more evidence emerged of the disastrous decline of France, which has followed a strong left wing socialist agenda under President Hollande. 

I have blogged before of the growing economic mess of this country - whose fortunes can be compared with the likes of Ireland, or even Spain, both of which have cut their debts and public spending, and not taxed business and job creation into the ground. The Irish in particular have cut taxes to boost growth. The French have raised taxes to 75%. 

The impact has been to kill any chance of a French recovery stone dead. The perils for us in Britain are clear: it would be economic suicide to follow the Hollande policies in the UK. This is what Miliband / Balls propose.

Again, don't take my word for it - read below the comments and then full article of Allister Heath of City AM, who said: "France’s economic sickness is primarily due to its overbearing state, horrendously high tax levels, insane regulations, absurd levels of inefficient public spending and generalised hatred of commerce, capitalism, success and hard work." Full article here:

http://www.cityam.com/article/1389059090/france-s-failed-socialist-experiment-turning-tragedy