Press Release – Prime Minister’s Comments on the British Economic Recovery – 7 April 1992

Below is the text of the Conservative Party Press Release on Mr Major’s comments on the British economic recovery. It was issued on Tuesday 7th April 1992, reference 815/92.

THUMBS UP FOR RECOVERY

“During this election campaign, I have been spelling out the Conservative programme for recovery. Our policies have brought down interest rates and brought down inflation; and companies and individuals have been liquidating their debt,” the Rt Hon John Major, Prime Minister and Leader of the Conservative Party, told a press conference at Conservative Central Office today.

“There is now further encouraging news. Yesterday, Dun and Bradstreet announced a real improvement in business confidence across almost every sector, with more than half the companies in the survey expecting increases in their order books and an improvement in sales.

This echoes similar optimism about recovery which has come from the Engineering Employers. These are clear signposts to an economic turnaround.

Recovery is also coming from British companies going out and winning major export orders.

Last week, Saudi Arabia announced further funding of £1.5 billion for the continuing Al Yamamah defence programme. In total, the current programme is now providing nearly 30,000 jobs throughout the United Kingdom.

And only yesterday, GEC once again proved itself a world beater in winning a £550 million order for a coal-fired power station in China.

The economic circumstances are right and recovery is on the way. What could stop it? Policies of higher taxation and new burdens on business would kill it. The policies of the Labour Party would kill it.

That is the verdict of the recent Gallup survey of top business leaders and managers:

– over half of them think interest rates will fall if the Conservatives are re-elected;

– four out of five businesses say that the economy will get better if the Conservatives are re-elected;

– nine out of ten businesses say that the Conservatives have the best policies for the economy.

So business is giving the Conservatives the thumbs up and giving Labour the thumbs down. Highly relevant – because it’s from business that recovery will come.

The return of a Conservative Government this Thursday is essential for recovery. It is the remaining ingredient to ensure a return to growth and prosperity.”