Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

HESELTINE: JOBLESS DROP SHOWS ECONOMY'S SPARKLING FORM

  • Comment
Deputy prime minister Michael Heseltine today welcomed a 40,800 fall in unemployment to its lowest level for over f...
Deputy prime minister Michael Heseltine today welcomed a 40,800 fall in unemployment to its lowest level for over five and a half years.

Mr Heseltine said: 'I am delighted with today's massive fall in unemployment, down 40,800 to 7.2%, one of the lowest unemployment rates anywhere in Europe.

'Following last month's equally large fall, no-one can now deny the strengths of Britain's sparkling economic performance: output up 0.8% in the quarter to September; inflation and earnings under control; employment rising, up 124,000 in the year to June; and unemployment falling on average 15 to 20,000 a month.

'Only yesterday Eurostat, the European Commission's statistical service confirmed that while unemployment across Europe remains constant at nearly 11%, the United Kingdom is virtually alone in Europe in having falling unemployment.

'Britain is on the move. More of our people have jobs and fewer are out of work than any other major European country. The reason is clear. Britain's flexible, deregulated labour market delivers jobs - 70% of people of working age have jobs in Britain, compared with only 65% in Germany or 59% in France.

'Jobs matter. They are the basis of people's prosperity and well being. We must not put them at risk through placing unnecessary burdens on business which raise costs and force them to cut back on staff numbers.

'That is why the prime minister secured our vital opt out to the Social Chapter. That is why we must oppose a job destroying national minimum wage and that is why we must oppose the imposition of restrictions on people's working time.

'Britain is getting more prosperous because we are working harder and working more efficiently. In a competitive world that is how a nation succeeds and how individuals better themselves.

'In Italy there are nearly three million people out of work, over three million in France and over four million in Germany. Britain is the only major economy in Europe where unemployment is falling.'

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.