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Since 2010, the government has pursued a long-term economic plan that has halved the deficit as a share of economy in 2014, employment has reached record levels, and wages are rising above inflation. At 4.9%, the deficit remains too high, and productivity remains too low.
The economy is still too unbalanced, and more needs to be done to build up the nations and regions of the UK, and to close the productivity gap between the north and south.
Earnings growth is continuing to strengthen, with earnings up 2.7% over the year in the 3 months to April 2015.
Living standards are forecast to be higher in 2015 than they were in 2010, and are expected to continue to grow over the forecast period.
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It ensures that the richest are paying a greater share of tax than they were at the start of the last Parliament, whilst the poorest continue to receive the bigger share of spending.
The welfare bill is too high, and the welfare system traps too many people in benefit dependency.
And for too long, the government has addressed low pay by subsidising it through the tax credit system, instead of delivering lower business taxes and asking business to pay higher wages.
Encouragingly, the increase in participation has been strong amongst women and older workers.
The number of working-age women participating in the labour force has increased by over 700,000 since the beginning of the crisis.