Who do you trust on Cornwall's economy?

On Saturday, Truro was busy with shoppers. It reminded me that almost a year ago Woolworths closed - the shop now occupying the former Woolworths store in Truro seemed to be doing a brisk trade. However, in Falmouth the former Woolworths store has not yet re-let. The recession is affecting people, places, and businesses in different ways, even within Cornwall. Some places may turnaround more quickly than others, but the latest data suggests Labour's active measures to stop the economy nose-diving into depression are working, and that Labour's real help for people is making a difference.

The local evidence to support this?

1. The new constituency of Truro and Falmouth covers the former Carrick District Council area except for Mount Hawke ward. To enable comparisons over time, the Office of National Statistics still publishes some data for 'Carrick'. The latest unemployment data shows that in October 1,492 people locally were claiming Job Seekers Allowance. This is 2.7% of local people of working age, compared to 4.1% nationally. Three quarters of people who are known to be seeking work are claiming JSA. This is similar to numbers in January 2009 - the number of people out of work fell during the summer season. For every one of the people seeking work, it's an exceptionally difficult time. Despite the recession, long-term unemployment (more than 12 months) is around one quarter what it was in October 1996 before Labour defeated the last Tory government.

It is Labour's investment in Falmouth and Truro which has helped to make that difference. That investment needs to continue through convergence and other funding to maximise new jobs in renewable, digital, and creative industries.

2. Housing. For those waiting for social housing in Cornwall - 3,400 households in Truro and Falmouth - much hangs on the success of Cornwall's bid for new council housing, and other positive future action by the Council. Tucked away at the end of this newspaper article is the news that - thanks to Government action to keep people in their own homes during the recession - the repossessions forecast for this year is now 48,000 rather than 75,000 - and that at 1990s repossession rates, that would have been 91,000. I hope the Treasury will invest more in new council housing as Housing Minister John Healey MP is asking - construction also helps to keep people working. The repossession numbers show how important it is that people facing mortgage difficulties and the frightening prospect of being made homeless find out what help is available - you may be able to keep your home.

Most people will welcome the new legislation to stop fat cat bonuses and ensure that the mistakes and excessive risk-taking of the financial sector are not repeated. Many people would also accept or welcome a new tax on financial transactions such as buying and selling shares - sometimes called the 'Tobin tax'.

There is a need to pay down debt, and Labour's commitment to halve the UK's deficit during the next four years demonstrates seriousness of purpose. I am not going to second guess what will be in the coming pre-budget report. What I want to see for people in Cornwall is continuing investment in jobs and homes, and protection for the lower paid and those like pensioners who are on fixed incomes.