Long term youth unemployment has halved in every region of our country. And in the pre-budget report last week the Chancellor confirmed that we have now laid the foundations for steady long term economic growth and stability. Inflation is at its lowest level for thirty years. We have a higher level of business investment as a share of our economy than at any time in forty years. And long term interest rates are around the lowest for thirty years.
Full employment is a realistic target.
We have moved away from the old 'stop go'economy of the past. And that means we have a once in a generation opportunity now that we have laid those foundations for economic stability. An opportunity to establish lasting economic success. The task of Government is to ensure that success filters into all parts of the country. History teaches us that greater prosperity does not automatically lead to greater sharing of wealth across regions, cities or communities.