Training | 2010.01.09
Electing the Conservatives is a risk we must not take | Alistair Darling
Tory plans to cut \'further and faster\' would wreck recovery and roll back Labour\'s many successes
The choice we make at the general election in 2010 will define the future of our country for the next 10 to 20 years. It is a choice between two competing visions: David Cameron \'s vision of a decade of austerity in which the UK would fail to make the most of its potential and inevitably fall behind the performance of other countries; or our vision of building a fair and just society with growth guaranteeing jobs and opportunity for every business and family. It is a contrast between a pessimistic outlook, lacking ambition, and one of confidence and optimism.
The last 18 months have been difficult for every country in the world, ours included. But the steps we have taken – and which have been opposed by the Tories at every turn – are working. We must now build on that: to take the tough decisions needed to cut our borrowing over the next four years while supporting growth and doing nothing to damage the economic or social fabric of the country.
It is imperative to secure growth and to seize the opportunities of an improving world economy. We are well placed. Many of our industries are world leaders. We have a good record of innovation backed by world-class universities and a tax system that backs research and development. We need to capitalise on them. It is where the jobs of the future will come from and we must not put that at risk.
Throughout the last year we took the tough decisions needed to stabilise the banking system and support families and businesses. Most importantly we kept more people in work – unemployment is lower than in France, Spain and the US – and helped more people stay in their homes than many thought possible. We\'ve stabilised the economy, and the economy will return to growth this year.
And to demonstrate our determination to live within our means I will present legislation to the Commons next week which will set out how we\'ll halve the deficit over four years. It will not be easy, but to cut "further and faster" as the Tories have pledged would be reckless and dangerous. Even if they intend to halve the deficit one year earlier, they will have to find additional cuts or tax rises of £26bn. They owe it to every family and business to spell out what their plans are. This approach is foolish in the extreme. It would risk wrecking the recovery and would not be a platform from which this country can succeed.
The UK is one of the largest economies in the world. We have a great storehouse of strength in our businesses, our science and engineering and our world-class education system. Public investment and private endeavour working hand-in-hand will help us secure growth in the future. Britain\'s companies cannot do it on their own. We will need to encourage innovation and enterprise. Over the past decade, we have more than doubled the science budget, doubled the money universities make from knowledge transfer and spin-outs, and introduced a successful R&D tax credit system.
We need to exploit this advantage. With four universities in the world\'s top 10, we should have even more commercial applications of our research and deeper R&D activity at our firms. That\'s why the pre-budget report announced a new tax incentive for companies profiting in the UK from exploiting their patents. We\'ve invested in the skills of the people of this country. Training programmes have supported millions in improving their skills and apprenticeships have trebled, with over 2 million completed since 1997. But there is still a skills gap with our competitors – and we need to address it.
Infrastructure too is a vital element of growth. Following decades of neglect, we have increased capital spending and transformed the way we invest. But we still need to do more – that\'s why we are looking at new high-speed rail links. And we\'re looking at our infrastructure needs across energy, waste, water, telecoms and transport over the next 50 years.
The threat of climate change to a strong and stable economy in the future cannot be exaggerated. But the low-carbon sector offers an opportunity to secure this growth. By addressing investment barriers we\'ve released billions of pounds for offshore wind, ultra-low carbon vehicles, marine energy, and low-carbon aerospace. Green industries alone could support a further half a million jobs over the next decade. None of this would happen without our support.
It is only by growing and investing in our key sectors that we will be able to deal with the many global challenges of the coming decades. That\'s why I reject the idea of a decade of austerity and swingeing cuts of public spending. The choice the government makes in 2010 will be crucial to Britain\'s future: do we lock in the recovery and set a path for future growth by continuing to enable businesses and people to make the most of their opportunities, or do we risk it all by rolling back the progress of the past decade in supporting enterprise and innovation and gamble with the recovery by cutting deeply into public services?
George Osborne \'s approach is a serious risk, not just to our recovery but to our future. It is a risk we should not take. We\'ve made the right choices over the last year and will continue to make the right choices over the coming year.
For more information, please visit
http://www.guardian.co.uk/commentisfree/[...]rvatives-wreck-labour-recovery
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