There are all sorts of reasons. The hon. Gentleman must know that the last quarter has just been on the right side of zero. Growth has been small but positive. We avoided the triple-dip recession that people were saying was likely, given the terrible winter and the dreadful weather we had. The answer is that there has been a combination of failure.
The banks failed the economy at the end of the last Labour Administration. They were not sufficiently dealt with or regulated by that Administration, and they still have not got into a position where they are lending our constituents and small businesses in the right places the money to enable them to invest. Every single colleague around the House tells tales, rightly, of how difficult it is; people come to see us and tell us that they do not get the investment.
We have not been selling enough around the world, which is one of the avenues by which we must earn our way. That is why the Prime Minister, the Deputy Prime Minister, the Business Secretary and others have been out and about, going not just to our traditional trading partners but to the large, developing partners—Brazil, Mexico, Turkey, India, China—to develop our trade. That is why we are working very hard to get an EU-USA free trade agreement, to deliver growth.
The answer to the question is that the economy has been faulty as a result of a combination of historic and more recent factors, but the Government are seeking to do as many things as they can. Last year, the green investment bank was another initiative to get growth going in an economy in which the Energy Bill this year is likely to assist in the creation of up to 250,000 new jobs in green energy. That is really valuable and important. The hon. Member for Hartlepool called for a Bill to set up another form of investment bank. The Government have, as he knows, a plan for further investment lending to companies as well as the green investment bank, and that is welcome.
So jobs are up; apprenticeships are hugely up. The state pension is significantly up—higher than at any stage since Lloyd George introduced it. The income tax threshold is significantly up, from £6,500 more or less when we started, to nearly £9,500 this year, and next year to £10,000 before anyone pays any tax. Inflation is still low. Interest rates are very low, and that is hugely important for people with mortgages and businesses borrowing. Crime is at its lowest level for many years. Those are significant achievements, and I think we should be proud of that. It shows that many of the things that the Government have done over three years are working.