Securing Recovery

• We will secure the recovery and then halve the deficit over four years. Cutting support to the economy now risks choking off recovery.

• Securing the recovery and getting long-term growth are Labour's absolute priority. The head of the IMF has warned against withdrawing support too early and pushing economies into recession - but that is precisely what David Cameron and George Osborne threaten.

• The Institute for Fiscal Studies said today, "We suggest that no further significant tightening is implemented in 2010-11..." George Osborne threatens to choke off recovery by cutting support for the economy now - but he refuses to give details of his plans.

• As Liam Byrne said, "What's becoming clear is either he has a secret plan or no plan at all. And he must now be straight with the British public."

• When the recovery is secured, we will halve the deficit in four years through:

• Growth - because faster growth increases revenues and cuts the costs of unemployment.
• Fair tax increases - and we have been upfront in setting out our choice to increase taxes on those with the highest incomes as well as putting a penny on national insurance in order to protect our front-line services.
• Tough choices on public spending - including cuts in some departments.