Providing economic security

We are getting more people into work than ever before – so people from Cambridgeshire and Peterborough have the security of a steady income for their family.

  • There are more people in work than ever before, giving them the confidence to plan for the future. Employment is up by over 2.7 million since Labour were in power, and employment in Cambridgeshire and Peterborough is up 39,000 since 2010 (nomis, accessed 18 January 2017link ).

We are cutting taxes – so people in Cambridgeshire and Peterborough can keep more of what they earn.

  • We have cut the personal tax allowance – so families in Cambridgeshire and Peterborough are better off. The typical tax payer is now £905 better off than in 2010 (HM Treasury, Budget 2016).
     
  • We’re making sure those in the lowest paid jobs get a fair reward for a hard day’s work by introducing the National Living Wage, which will give more people in Cambridgeshire and Peterborough a pay rise. In May 2015, the National Minimum Wage was £6.70 an hour for those over 21 years old.  Our new National Living Wage is currently £7.20 and in April it will increase to £7.50 – benefiting thousands of hardworking people across the East of England (Autumn Statement 2016, November 2016link ).

We are starting apprenticeships – so young people in Cambridgeshire and Peterborough can gain the skills they need to get on in life.

  • There were 6,090 apprenticeship starts in Cambridgeshire and Peterborough in 2015/16 alone. Since 2010, there have been 33,870 apprenticeship starts in Cambridgeshire and Peterborough (Skills Funding Agency, 18 October 2016link ).

We are helping more people into homeownership – so people in East of England have the stability of a safe and secure home.

  • Help to Buy is helping more people in the East of England achieve their dream of home ownership. Since 2013, Help to Buy: equity loan has helped 2,408  people in the East of England and Help to Buy: mortgage guarantee scheme has helped 1,181 in the East of England achieve their dreams of buying their own home, with a much smaller deposit than they would normally require (DCLG, Help to Buy equity loan scheme and Help to Buy: NewBuy statistics: April 2013 to 30 September 2016, link ; DCLG, Help to Buy mortgage guarantee scheme quarterly statistics: October 2013 to 30 September 2016link ).

We are backing small businesses – supporting a strong and secure economy in Cambridgeshire and Peterborough.

  • There are 4,770 more businesses in Cambridgeshire and Peterborough than in 2010. This is a clear sign our long-term plan to secure a stronger, healthier economy is working (Nomis, Constituency Profile – Business Population Estimates 2016link).