Chancellor Rachel Reeves promises to bring investment to Britain to boost living standards
Rachel Reeves has said her ambition is for the UK to be “the best place to start and grow a business” as she promised Labour will bring investment to Britain.
The chancellor, speaking to Sky News ahead of her keynote speech at Labour’s conference today, said by bringing stability to the economy her administration will be “the most pro-growth government that this country has ever seen”.
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Ms Reeves said: “This is all part of our agenda, to be the most pro-growth government that this country has ever seen, because there is immense potential, huge potential in the creative industries and our professional services in tech industries, low carbon technologies.
“I want those jobs here in Britain.
“There’s a global race on for these jobs, but if we can make the changes, which I’m determined to bring about, I know we can get that investment to Britain, increased living standards and more money in people’s pockets.
“Vibrant communities, stronger high streets and Britain will be the best place to start and grow a business. That’s my ambition.”
Starmer’s government has been seen as too negative so far. Pic: PA
Ms Reeves said she will set out how the government will achieve that during her speech in Liverpool at lunchtime today.
She repeated Labour’s manifesto pledge to not raise VAT, income tax or national insurance.
The chancellor is, however, expected to announce some changes at Labour conference. Any major announcements will be saved for the autumn budget on 30 October, though.
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Sir Keir Starmer’s government has been accused of being all doom and gloom since coming into power in July after a landslide victory but Ms Reeves appeared to be turning that around slightly.
She said: “If we can return that stability and reform our economy, I’ve never been so optimistic about our country’s future.
“If we can get this right, then there is no end to what we can achieve as a country.
“And that’s what I’m determined to do, to unlock the real potential that we have through stability, through reform, and then, crucially, through investment, which is a solution to the low growth that has bedevilled our economy this last decade or so.”
Conservative MP Gareth Davies, shadow exchequer secretary to the Treasury, accused the chancellor of using her “discredited narrative on her economy inheritance to avoid taking responsibility for the choices she has made”.
He accused her of spending “billions on inflation busting public sector pay rises for trade union backers paid for by snatching £300 from pensioners at the same time accepting thousands of pounds in free clothes and luxury holidays whilst telling families to tighten their belts”.
“She must take responsibility for the political choices she is making, now and at her first Budget. We will hold Labour to account on the promises they made,” he said.
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Parties ‘rely on donations’
The row over Labour politicians accepting large donations has overshadowed the beginning of Labour’s first conference in government in 14 years, with Sir Keir taking more donations than any other MP.
Ms Reeves is on the lower end of the amount donated to her, and said the £7,500 she was given for clothes was from “an old friend” who wanted to donate to her campaign.
“I really appreciated that support, it made a big difference to me,” she told Sky News.
“It was never something that I planned to continue in government. As chancellor, that’s not something I’ll be doing.”
She added she understands people’s concerns but added politicians and parties rely on donations to campaign, which she thinks is right as taxpayers should not be funding them.
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Ms Reeves said Labour MPs have been transparent about donations and said the party received more donations than ever before.
“We appreciated those donations, it helps us to do our job of getting elected and making the change that our country desperately needs,” she added.
The trial is part of Project Acacia, an initiative from the RBA exploring how digital money and tokenization could support financial markets in Australia.
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