04/10/2011

Boost For Families Suffering Recession: PM

The Prime Minister David Cameron has promised "a better time ahead" after acknowledging that the turbulent economy is causing suffering for families.

Speaking at the Conservative Party conference in Manchester, Mr Cameron said the Government is taking action where it can to help keep families' bills down, citing Chancellor George Osborne's announcement yesterday of a one-year council tax freeze.

However, he will stick to the deficit reduction package of cuts and tax rises, warning that interest rates would rise if the international money markets lost confidence that Britain was paying off its debts.

''The whole message of this conference is that we know things are difficult, we know families face difficult times right now, but we have got to show the leadership to make the right decisions and get us through this difficult time and get to a better time ahead," he said.

''I completely understand that families today do see the prices at the petrol pump high, food prices have gone up. Many people, particularly in the public sector, have had their pay frozen.

''I understand the difficulty people are going through, so the council tax freeze is helpful because that is one bill that is not going up," he said.

Yesterday, the Chancellor, George Osborne set out the Government's activist economic strategy to deal with the country's debts, promote growth and spread prosperity.

In a speech said to be demonstrating the Government's determination and resolve, he explained why more debt couldn't be the solution for the debt crisis this country faces.

He said that the Government would deal with the deficit to keep interest rates low, get credit flowing, support business to rebalance the economy and also offer help for families with the cost of living.

George Osborne also stressed the importance of the low interest rates that the Government's deficit plan has achieved and took on those who would gamble the priceless fiscal credibility that this Government has earned with the international markets on the bet that borrowing a few billion pounds more would make all the difference.

To help get the economy moving the Chancellor also announced that he would look at the options to get credit flowing to small firms through 'credit easing'. This would inject money directly into parts of the economy most in need, for example small businesses, without adding to the deficit.

There were a number of new measures to support business and help rebalance the economy.

(BMcC/CD)

Related UK National News Stories
Click here for the latest headlines.

02 February 2010
Osborne's 'Solid' Economy Plans
Government plans to halve the budget deficit within four year are not "credible", Tory Shadow Chancellor George Osborne said today. Mr Osborne said a Conservative government would rebuild the UK economy on "more solid" foundations. Savings, exports and greater enterprise should form the basis of an economic recovery, he told senior backbench MPs.
20 March 2012
Badger Cull Scrapped
A controversial plan to cull badgers has been dropped by the Welsh government. The plan was hoped to wipe out bovine TB in cattle but environment minister John Griffiths said after carefully considering the scientific evidence he has instead opted to vaccinate the animals.
26 July 2006
Victory for Iraq families at Court of Appeal
The families of British soldiers killed in Iraq have made a legal breakthrough in their bid to get a full public inquiry held into why Britain entered into the conflict. The Court of Appeal ruled that the families were entitled to apply for a judicial review of the government's refusal to hold an independent inquiry.
17 February 2011
Green Economy Council Rise To The Low Carbon Challenge
The Green Economy Council has held its first meeting to discuss how government and industry can work together to support the transition to a green, low carbon economy and minimise the costs for business while maximising the opportunities.
05 September 2008
PM Rules Out Fuel Payments
The Prime Minister's decision to rule out cash handouts to households struggling with rising fuel bills has been strongly criticised by trade unionists. Gordon Brown was expected to announce that each household would receive up to £100 to help with energy costs after speaking with power companies.