PM’s press conference on the economy

By Alex Smith / @alexsmith1982

Gordon Brown is now speaking about the economy and Labour’s plans for the recovery. Some of the major points are below [paraphrased]:

* We must do nothing this year that will put recovery at risk. This is the view of all major leaders and it is the view of the IMF.

* It is right that we do what is necessary to lock in economic recovery.

* The biggest mistake we in Britain could make would be to withdraw supportive action now.

* We are stepping up our action on unemployment: 100,000 young people are today eligable for new support.

* Young people: you have the change to prove yourselves and improve yourselves.

* There are few countries that have done more at any time to support young people.

* The coming election will be about those big challenges: who offers the best prospect for future jobs and for prosperity?

* Tomorrow we will announce a £125 million innovation fund for new industries.

* Within a decade, 90% of all new jobs will require skills.

* Our plans will take head on our intention to halve the deficit.

* NHS, policing and schools will be better tailored to meet individual needs.

* We have plans for dirving forward the recovery, creating new industries and the new jobs of the future.

* If you withdraw stimulus too quickly, you risk jobs, and you risk services as well.

* The 50% tax rises, rises in national insurance, the removal of pension tax relief at the very top, as well as £25 billion spending cuts will allow us to meet our deficit reduction plan — I take the tough decisions when the tough decisions are needed.

* I think Bob Ainsworth’s remarks were that we needed to do everything we can to stop Conservatives winning on May 6th in the local council elections.

* The choice at the next election will be about who is best equipped to make big decisions on the future of the economy and the country.

* Those parties that propose policies to remove the stimulus now would put the future at risk.

* It’s stil uncertain as to how much money will be available as a result of reductions in unemployment.

* We’ve taken unprecedented measures: we can get the economy growing more quickly.

* The less unemployment you have, the more you can reduce the deficit.

* We are determined to maintain the momentum for growth in our economy and for jobs.

* We’re not going to be put off course by people shouting for a reduction in the deficit today. We’re not going to take that advice.

* People will see that there are big issues about the future of our country; they will ask: is this a referendum on the government or a choice between competing policies?

* The Conservatives haven’t changed at all, despite the public relations gloss, despite the flim-flam.

* There’s a myth that the deficit reduction plan is not detailed – it is more detailed than America’s and those in Europe.

* There is uncertainty about how much growth there will be in the economy in the next two to three years. It would be premature now to allocate funds to departments because of the uncertainties about growth.

* We have a trilogy of measures [to cut the deficit]: tax rises; efficiency savings; and go for growth, which is the biggest means.