The Prime Minister opened by saying the Spring Statement came at
a critical moment with an unstable global outlook, underlining
the importance of delivering economic stability at home. The
Prime Minister said that the Plan for Change is working
- having delivered £100 billion of capital
investment, 190,000 more jobs, falling interest and mortgage
rates, and wages growing faster than prices - and today the
government would build on these strong foundations.
The Chancellor welcomed the fall in inflation this morning and
said the Spring Statement followed choices the government took in
the Autumn Budget to fix the foundations of the economy, put
record investment in the NHS - delivering five months in a
row of falling waiting lists - the rolling out of free
breakfast clubs to all primary schools, a £1,400 increase in the
National Living Wage for 3 million workers coming in next week,
£100 billion of increased capital investment, and a £190
billion increase in day to day spending for public services.
The Chancellor said the Spring Statement would reflect a slowing
outlook for global growth, which underlined the importance of the
government's growth agenda which had already seen the government
back key projects including Heathrow, East-West Rail, the Old
Trafford regeneration, and yesterday's decision to approve the
Lower Thames Crossing. The Chancellor said you do not deliver
growth by abstaining on these decisions as previous governments
had done, but by getting on with delivering the key projects
and reforms needed to the UK's planning system and changing the
way the state operates to be more agile and effective, and
deliver better value for taxpayers.
The Chancellor concluded by saying today's Spring Statement would
demonstrate the government's plan to deliver higher growth,
higher living standards, and better public services, built upon
the key foundation of economic stability.
