Crawley MP, Henry Smith, has welcomed the latest figures showing the British economy is now above its pre-crisis peak, after Labour’s Great Recession saw the economy shrink by 7.2 per cent.

The economy grew by 0.8 per cent in the second quarter of 2014, up 3.1 per cent on the same period last year.

Henry Smith MP, said:

“Thanks to the hard work of Crawley folk and people across the country, the economy has recovered to above its pre-crisis peak – a major milestone in the long-term economic plan. But there is still a long way to go.

“Earlier this month, I met with the Exchequer Secretary to the Treasury at Gatwick Airport regarding a growth deal for the Crawley-centred Coast to Capital enterprise region. This will be worth over £200 million over six years, including an initial investment of £38 million next year which will deliver over 14,000 new jobs and around 4,600 new homes.

“This year, the independent ‘Cities Outlook’ confirmed Crawley as having 4.2 private sector jobs for every local public sector position – the best ratio out of 64 UK towns and cities. The report also stated our town as having the 3rd highest weekly earnings, and the 2nd lowest levels of inequality.”

Ed Miliband hailed the election of the Socialist party candidate Francois Hollande as French president in 2012. He was not so quick to crow about recent figures showing that new investment from foreign businesses in France fell by 77 per cent in 2013.

This continuing growth under a Conservative-led government means there are more businesses, creating more jobs, so that more families can have the security of a regular pay packet and the peace of mind for the future that brings.

The new Travelodge, the Morrisons supermarket and the ongoing Principal Park development in Manor Royal all show the high regard Crawley is held in when it comes being open for business. The Morrisons store alone has created almost 200 jobs.

Additionally, a new restaurant will soon open in the town centre, Turtle Bay, which will come just a month after Nando’s opened a new restaurant at Gatwick Airport.

Henry continued:

“There are businesses starting within Crawley as well – the Government’s Start-Up Loans scheme helped fund more than 56 local entrepreneurs, who set up their own businesses through funding worth more than £330,000. A recent Duport Business Confidence Report mentioned a record number of new start-up enterprises across our town, up by 25 per cent on the previous year.

“Our town’s unemployment claimant rate has fallen to its lowest level since 2008. The figure has more than halved under this Government to 2 per cent. Youth unemployment specifically has fallen by three quarters to 2.3 per cent.

“There is more work to do, and I am looking forward to hosting the second annual Crawley Jobs Fair at the Civic Hall on Friday 19th September 2014.”