Chancellor Rachel Reeves Pledges Economic Growth as National Mission in Maiden Speech
Chancellor Rachel Reeves Ple...
Subscribe to Newsletter

Chancellor Rachel Reeves Pledges Economic Growth as National Mission in Maiden Speech

8 July 2024
395
2 min.
6
Chancellor Rachel Reeves Pledges Economic Growth as National Mission in Maiden Speech

Rebuilding Britain

In a decisive move to address the £140 billion growth deficit that has accumulated over 14 years of Conservative governance, Chancellor Rachel Reeves is spearheading an ambitious economic revival plan. Her approach hinges on fast-tracking infrastructure projects and setting bold housebuilding goals.

Making her first appearance since Labour’s recent electoral triumph, Reeves will declare, “When past governments have shied away from tough choices necessary for growth or have delayed action, I will step up. This is now a national mission, and we cannot afford to waste any more time.”

Simultaneously, Prime Minister Sir Keir Starmer is embarking on a nationwide tour, beginning with a meeting with Northern Ireland’s First Minister Michelle O’Neill and Deputy First Minister Emma Little-Pengelly. His tour kicks off at Stormont on Monday morning, followed by a flight to Washington for the Nato summit on Tuesday.

The Starmer administration is focusing on accelerating economic growth and utilizing the resulting tax revenues to enhance public services. Labour’s manifesto outlines comprehensive planning reforms to expedite construction and emphasizes the importance of advancing key infrastructure projects and boosting housebuilding.

A key promise in the manifesto is the immediate update of the National Policy Planning Framework to undo Conservative changes, notably reinstating mandatory housing targets.

In her upcoming speech, Reeves will detail the Government’s initiatives to “strengthen the economic foundation of our nation, aiming to uplift every region across the UK.” She will point out that lagging behind the average growth rate of OECD countries has deprived the Exchequer of £58 billion in tax revenues.

Chancellor Reeves aims to invigorate private investment and infrastructure by overhauling the planning system. Labour’s manifesto features a comprehensive 10-year infrastructure strategy and significant updates to planning policies. The Institute for Government has urged Reeves to adopt robust fiscal policy reforms.

As Reeves herself puts it, “It is now a national mission. There is no time to waste.”

Persons4 and Companies2 in the news

Northern Irish barrister and Democratic Unionist Party (DUP) politician
1 place
Irish politician
2 place
Shadow Chancellor of the Exchequer
3 place
Politician
4 place
Nato
2 place
Section:
Source foto:
flickr.com
Rating companies
Instagram
13 Mention
ITV
11 Mention
Daily Mail
9 Mention
Labour Party
7 Mention
X (Twitter)
7 Mention
The Sun
6 Mention
Netflix
6 Mention
BBC One
5 Mention

ENGLAND NEWS


News GlobalEng.biz -this is the latest and most up-to-date information about the resonant events that have occurred in the region. The task of the resource's news feed is to convey to readers information about important events in business, politics, economics, healthcare, culture and other spheres of life in England with maximum accuracy and objectivity.
News GlobalEng.biz - this is coverage of the economic processes taking place in England, the latest news of public life, incidents and an overview of political events. English news is information about the activities of small and medium-sized businesses, the work of housing and communal services, the implementation of significant projects. The site's journalists describe not only the life of the region, but also talk about the current state of the English economy. Everything you need to know about innovations in the field of industry and agriculture, economy and government is collected in the "News" section on GlobalEng.biz.
News of England promptly informs the reader, shows the real picture and opens up topical topics. Communication with government structures and business gives us the opportunity to provide our readers with reliable, information-rich material.
The main page of the portal contains the key news of England!
Alena Potapova

Development Director
Population
8140906753
Died this year
33616935
Born this year
82703610