This debate this afternoon provides an opportunity to highlight the transformation that has taken place in the United Kingdom economy, thanks to the policies of the Conservative Government. Labour wasted 13 years in power and left behind a dismal economic legacy. I think that our Adam Price must remember very well what he just shouted very clearly and loudly, telling all this Chamber about the doom and gloom that is happening now. Britain had suffered the deepest recession since the war by that Government and Labour in London, not by our party. The country was borrowing £150 billion a year at that time. Unemployment had increased by nearly 0.5 million. Labour’s legacy was one of debt, decline and despair. That was their legacy when we came into power in London. Thanks to decisions the Conservative Government has taken, the fundamentals of the economy are strong.

Last year, our economy grew faster than all other advanced economies, except Germany, in the world. The Office for Budget Responsibility upgraded its forecast of UK growth for 2017 to 2 per cent from 1.24 per cent since last November. That’s a great achievement. Employment is at a record high. It is up by 2.8 million since Labour were in power. That’s 2.8 million people with the security of bringing home a regular pay packet to look after their children and family. That is economic growth. We have cut the deficit by almost two thirds. That is not me; they are the world economic forecast figures that we see. Don’t shake your head; this is true. In cash terms, the deficit is down from £150 billion when we came to office to just over £51 billion today. A survey in April showed that activity in the UK manufacturing sector grew at its fastest pace for the last three years. The survey also found that new orders are being received at the fastest rate since January 2014. The service sector accounts for about three fourths of the UK economy. Activity in this sector grew at a faster rate than expected in March this year. Exports are increasing and the trade gap is narrowing. That is where the economy is growing with the policy of London.