A Stronger Economy

We are building an economy fit for the future. Our balanced approach is getting debt falling at the same time as supporting public services, investing to improve our productivity and helping families with everyday living.

How are we building an economy fit for the future:

  • We will improve our productivity by embracing new technologies, investing in skills and infrastructure and helping businesses create better, higher-paying jobs. So we are delivering an ambitious Industrial Strategy and:

  • Increasing the National Productivity Investment Fund to £31 billion as well as increasing R&D spending by the largest amount for 40 years.

  • Establishing the UK as a world-leader in emerging technology such as artificial intelligence and driverless cars whilst boosting skills in STEM and technology.

  • We are supporting our public services, with over £6 billion more for the NHS, and getting Britain ready for Brexit with over £3 billion of extra funding.

How are we helping families with everyday living:

  • We are helping families earn more and keep more of what they earn by:

  • Increasing the National Living Wage, worth £600 extra a year for a full-time worker

  • Taking millions out of paying income tax altogether by increasing the Tax Free Personal Allowance to £11,850.

  • Freezing fuel duty for the eighth successive year, saving an average driver £850, from what they would have paid under the pre-2010 escalator plans.

  • Introducing a new railcard for those aged 26-30.

  • We have abolished Stamp Duty when you buy a home worth less than £300,000 and reducing it for homes between £300,000 and £500,000. 80% of people getting on the housing ladder will pay no Stamp Duty.

Our Local Economy

Since 2010, I have fought hard to maintain and grow a strong local economy that is supportive of businesses and creates jobs. There are now more people in work in Swindon than the national average. The average rate across the country is 71.8 per compared to 75.9 per cent here in Swindon. Over 7,400 more apprenticeships have also been created. This means that more young people in Swindon are earning and learning, getting the skills they need for a successful and secure future An annual report published by the Centre for Cities recognised Swindon as a town that has huge potential in terms of future growth. The town delivers higher productivity levels than cities much larger in size and performs strongly on a range of economic indicators, including productivity and share of knowledge-based jobs. The Government’s long-term economic plan has helped many new businesses launch in Swindon. The start-up business rate is twice the national rate and the weekly wage is also above the national average. Stagnation and recession under Labour has come to an end, and Swindon’s economy is vibrant, booming and better than ever. This year is a very important celebration for our town as we mark the anniversary of the birth of Swindon New Town 175 years ago. Since its humble beginnings as a small market town Swindon has since become a pillar of growth for the UK with its rich history, thriving business and vibrant communities.