Stockport residents are feeling the pinch as the current economic crisis bites. After the recent Conservative Weekend Conference at The Reebok in Bolton, I was talking with Stephen Holland, Stockport’s Conservative Parliamentary Candidate.

He commented, like many Conservatives, “Labour’s tax and debt bombshells are taking Britain to the brink of bankruptcy. Their only answer is yet more borrowing. It’s clear that the longer Labour are in power, the worse the economic situation will become. They are part of the problem, not part of the solution”.

A few points from the Conference show how badly we are all hurt by Labour’s financial crisis. Every child born this year will be saddled with £17, 000 of government debt. The average person would have to work an extra 4 years to pay off their share of the debt.

As David Cameron has frequently said, the real challenge is to get credit flowing again. This is why Conservatives are proposing a £50 billion National Loan Guarantee Scheme.

If we give companies some tax breaks for taking on more people and help small businesses by reducing employment costs, then perhaps companies will be able to create jobs rather than cut them. In the longer term Conservatives would get public finances back under control with an Office for Budget Responsibility.

It would also help our local economy to make Small Business Rate Relief automatic in England, as it already is in Wales. This can provide businesses with a rateable value under £15K with up to 50% reduction in small business rates. This is vital for our small shops and businesses, which are the lifeblood of our local community. In Heatons North, my own ward, we have at least 55 shops and office based business. Some of these could benefit.

Income tax on savings for basic rate taxpayers would be abolished by a Conservative Government. This would help so many victims of the recession who are currently feeling the effect of the low interest rates.

A Conservative Government would also raise pensioners’ tax-free annual personal allowance by £2K – unlike Labour who have raided pension funds by up to £5 billion a year.

George Osborne, Shadow Chancellor, has always said he will not write budgets in advance but will take the responsible approach at the right time.  Conservatives are committed to helping people who have saved all their lives and want to pass on something to their children. The Inheritance Tax-Free threshold would be increased to £1million per person, instead of the current lower level threshold of £312K which hits many ordinary people who have worked hard all their lives.

Cllr Jackie Jones
Heatons North

This article, by Cllr Jackie Jones, was first published by the Stockport Express 1/04/2009.