There are now many signs of improvement to the national and local economic picture.

Those of us who drive will benefit from the welcome fall in the price of petrol. We should also be glad that the most recent rate of inflation has also fallen. A recent report by the Centre For Cities think-tank confirms the success of the local economy.

Swindon can justifiably claim that it has made a significant contribution to this improvement. Using a measure called “gross value added” we have contributed £6.6bn to the British economy, which is a bigger contribution than Oxford or Plymouth. We are continuing to provide jobs in our essential private, wealth-creating sector. Our employment level is 78 per cent, which means we are the third best of the 64 leading British towns and cities. That is fantastic news, especially as it comes along with falling unemployment rates in the borough, including for young adults. Moreover, even though we have more people in the public sector than manufacturing, the borough’s economic diversity and strength means that we have only one person in public sector for every four employed privately. This ratio makes us the second best town or city out of 64 in the UK.

This economic success in one of the reasons why we secured more than £94m of Government funds for infrastructure investment in Wichelstowe, the Eastern Villages, and the M4 Junctions.

This success shows Swindon is not a small town, but stands shoulder to shoulder with the leading wealth-creating parts of the country.

There may be some who can only see the negative data. They will point out that we have not added as many jobs as other places. This is true, but not the whole story. As well as the number of jobs added, you also have to take into account our population growth. The full explanation is that the number of new jobs has not quite kept pace with our rising population. Our problem is that we are facing the challenges of success. However, we need more than business parks and roads to be a success. We also need to be a place where people want to move to live. We need sporting, cultural and leisure activities to help local firms attract and retain the best people. That is why I am so keen to get a new museum and art gallery. We also need an educated, skilled workforce, which is why I refer so often to the council’s work in partnership with schools and colleges. We must make sure all residents, not just young people, are in the best position to support local enterprise.