Good news on the economy

Growing our economy

  • Our economy grew in the three months to August – and we are going to get Brexit done by 31 October to continue to build a brighter future for Britain. In the three months to August, our economy grew by 0.3 per cent – mainly driven by our service sector which rose by 0.4 per cent. The fundamentals of our economy are strong, and we are going to get Brexit done by 31 October so we can focus on the things that matter – like more police officers, improving our NHS and properly funding our schools.

Helping people to get on the housing ladder

  • Nearly six in ten homes for sale across Britain are exempt from stamp duty or its equivalent tax for first-time buyers – as our plans are helping people to realise their dream of homeownership. Zoopla, which analysed property listing data over the past year, found that 59 per cent of homes for sale were under the threshold for taxes on transactions for first-time buyers.

Creating higher-paying jobs through our strong economic management

  • Average pay for new jobs is a fifth higher than a year ago, meaning people have more money in their pockets at the end of the month. A study by jobs site CV-Library also indicated that the number of advertised jobs has jumped by 10 per cent over the past 12 months – an indication that businesses are creating more jobs. Since 2010, the number of people in work has increased by over 3.7 million, and with wages rising at their fastest pace in over 11 years, people’s pay packets can go further.

Global consumer confidence has reached historic high levels

  • Consumer confidence is at historically high levels across the world’s leading economies, and as we prepare to leave the EU on 31 October, we will take advantage of global opportunities. According to figures from the Conference Board, the global index for consumer confidence is at a historic high – meaning households are feeling confident about their jobs and incomes and are willing to spend. The UK saw increases in consumer confidence – and we will realise the benefits of Brexit to build a brighter future for Britain.

Creating a strong environment to allow businesses to grow

  • Venture capital (VC) investment in fast-growing British businesses surged in the third quarter of 2019 – and we are backing businesses to grow so that they can create more, well-paid jobs. Venture capital investment rose by 19 per cent in the third quarter to over £2.4 billion, meaning the UK is on target to smash last year’s record investment levels. Over £7.4 billion was invested by VCs in UK scaleup firms during the first nine months of 2019, almost equalling the £7.6 billion raised over the entirety of 2018. We want the UK to be the best place to start and grow a business, as we know that by backing businesses, we can spread prosperity across the country and create more jobs.