David Cameron has announced a series of new policies to encourage saving and ensure a good future for Britain’s economy.
He attacked Gordon Brown for allowing the level of government, corporate and personal debt to rise too high, and warned that Labour’s Debt Crisis means we are in a weaker economic position than other countries.
He stressed, “We need to make a really big change: from an economy built on debt to an economy built on saving; from a country and government that has lived beyond its means to one that lives within its means.”
David outlined two firm proposals to help turn Britain “from a spend, spend, spend society into a save, save, save society”:
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Abolishing income tax on savings for everyone on the basic rate of tax (with top rate taxpayers continuing to pay the same)
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Raising the tax allowance for pensioners by £2,000 to £11,490.
These changes would be paid for by restricting all Government departments – except for health, schools, defence and international development – to a 1% real increase in spending in 2009/10.
David also made further policy announcements to illustrate the new direction in which we want to lead Britain’s economy:
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Green tech incubators, to help new green start-ups get off the ground
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An environmental stock market, where green companies are listed and traded
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Measures to ensure the majority of the population have access to fibre-optic broadband within five years – and as near as possible universal coverage within ten years
David ended by stressing Britain’s economy needs to move forward, not back:
“We are at the end of the road under Labour. There is no going forward with them. This country needs to strike out in a new direction. So it is a clear choice: a grim future under Gordon Brown, or a good future with the Conservatives.”
Read David's speech in full