Double-bubble: Rachel Reeves' regurgitating of Boris Johnson ’s old manifesto, sorry I mean Rachel Reeves' unveiling of Labour’s pioneering new plan for growth, then Keir Starmer at Prime Minister's Questions.
In the words of the ever-quotable Winston Churchill, “for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle”. Lower tax economies can be more dynamic,
A major speech Wednesday promises a host of pro-growth policies to turn the UK economy around. But the hurdles in the chancellor’s way are huge.
Jonathan Reynolds, Labour’s business secretary, told the Financial Times, “We have to respond to the agenda the US president has just set out with our own dynamism… Every country has to do it.”
Chancellor warns MPs not to ‘put their own interests above those of the country’ as she aims to kick-start the economy
The Chancellor has faced questions about her plans since the start of the year, amid stuttering growth figures and rising borrowing costs
Rachel Reeves would be “foolish” to put growth before net zero and approve expansion at Britain’s major airports, a major Labour donor has warned. Dale Vince, the eco-tycoon who has given £5m to the party, said it would be a mistake for the Chancellor to back a third runway at Heathrow and similar extensions at Gatwick and Luton.
Labour’s ambitions for a more pro-growth, pro-business agenda mark a positive shift, at least in tone. But actual, visible, tangible growth depends on execution. This in turn depends on private sector money, overcoming bureaucratic hurdles, and cutting the Brexit red-tape that continues to hamper trade with the EU.
There are huge clues that Keir Starmer could unwittingly force his party into a situation in which they have to beg Britain to be allowed to stay in power.
The chancellor has told Labour MPs there are "no easy routes" to economic growth, after hinting the government will back a third runway at Heathrow Airport. Rachel Reeves said ministers must start saying "yes" to new projects and go "further and faster" to boost the economy.
The chancellor says the expansion of Europe's busiest airport is "badly needed" - but the Green Party's Sian Berry calls it "the most irresponsible announcement from any government I have seen since the Liz Truss budget".