“The Labour Government in Wales is showing there is a better way with the Jobs Growth Fund which will provide 4,000 jobs per year for young people. The Welsh Government is also investing in infrastructure projects like schools, roads and broadband and boosting business through the recent announcement of £55m in grants and loans to help small and medium-sized firms.
Now I am calling on the UK Chancellor to boost the economy, by adopting Labour’s plan for temporary VAT cuts, more investment in infrastructure projects and waiving national insurance payments for firms taking on new employees. Instead the Chancellor seems determined to undermine investor confidence in manufacturing by changing the goalposts for investors in solar power and imposing a supertax on energy –intensive industries like steel. At the same time he is sucking money out of the Welsh economy and squeezing household budgets through increased VAT, cuts in winter fuel allowance, real term cuts in pensions and benefits. All this means that people have less money to spend in local shops. He needs to act quickly to prevent real hardship and to stop this becoming the worst double-dip recession ever.”