Sky's Ed Conway says the announcements made by Rachel Reeves will show no immediate returns for a chancellor accused of scoring a growth own-goal within weeks of stepping into the role.
Don't, whatever you do, call it a 'relaunch'. When the chancellor stands up and delivers her much-anticipated speech on Wednesday - with all sorts of exciting schemes for new infrastructure and growth-friendly reforms - she will cast it as part of the new government's long-standing economic strategy. Having begun the job of repairing the public finances in last October's budget, this is, Rachel Reeves will say, simply the next step.
And most would agree that making it easier to build infrastructure will help improve growth. But it's not everything. What about the fact that the UK has the highest energy costs in the developed world? What about the fact that these costs are likely to be pushed higher by net zero policies ? What about the fact that tax levels are about to hit the highest level in history, or that government debt levels are now rising even faster than previously expected.
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