According to the International Monetary Fund (IMF), this year Britain will have the fastest growing economy of any major industrialised nation in the world at 3.2 per cent.
Life for many families across Brighouse has been hard over the last six to seven years. The great recession that followed the banking crisis of 2007/08 saw significant numbers of local people lose their jobs, whilst many of those who were in work worried about what the future might hold.
With the foundations for a broad-based economic recovery now in place, and as the national economic outlook continues to improve, there are further signs that the local economy here in Brighouse continues to go from strength to strength.
Unemployment here in Brighouse has reduced by almost half since May 2010 and now stands at only 2.1 per cent. There are now only 181 people unemployed in our area which is a reduction of 155 people since the last General Election. As well as more people being in work, we can also see further signs of improvement in the local economy here in Brighouse with a number of key projects moving forward on the periphery of the town centre (such as the development of Sugden’s Mill site).
This additional investment coming into Brighouse is welcome and this will bring further prosperity, wealth and jobs to our town.
Whilst we still have a long way to go, locally and nationally, we are in a much better position now than we were a few years ago.
To ensure that this trend continues and that the economic recovery is sustained we must maintain the stability that the Government’s long-term economic plan has brought.