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  Labour manifesto: 2010 general election party policy
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ContributorJason 
Last EditedJason  Apr 19, 2010 04:16pm
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CategoryGeneral
MediaNewspaper - Daily Telegraph
News DateMonday, April 12, 2010 07:30:00 PM UTC0:0
DescriptionEconomy

The party insisted it would be “relentless” in getting value for money from the public sector “for every pound spent”, finding efficiency savings and eliminating waste.

Labour said it would “overhaul” the way government runs by cutting back-office costs, getting rid of “unnecessary” quangos, and by “sharply” reducing consultancy fees and marketing expenditure.

However, the manifesto ducks the reality that real cuts in public services must be made in order to reduce the government deficit, which will reach £167?billion this year.

Specific economic promises include:

* Securing the recovery by supporting the economy and more than halving the deficit by 2014 through growth, fair taxes and cuts to lower priority spending.
* Realising stakes in publicly-controlled banks, introducing a global levy and reforming banking.
* Building a high-tech economy and modernising our infrastructure
* Supporting business and industry to create one million more skilled jobs.
* Creating UK Finance for Growth, bringing £4 billion together to provide capital for growing businesses
* No stamp duty for first-time buyers on all house purchases below £250,000 for two years, paid for by a five per cent rate on homes worth more than £1 million.
* A National Minimum Wage rising at least in line with average earnings
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