Experts urge Chancellor Rachel Reeves to adopt US-style approach for UK economy. Rachel Reeves will unveil a 'Thatcher-style' emergency growth package as Labour desperately tries to revive the economy.
Rachel Reeves will unveil a 'Thatcher-style' emergency growth package today as Labour desperately tries to revive the economy.
However, critics have voiced extreme scepticism about the sudden focus on growth measures - with Labour's huge Budget tax raid and workers' rights overhaul blamed for crushing confidence. The Chancellor is expected to confirm funding towards an East-West Rail link between Oxford and Milton Keynes, and an upgrade to the road linking the Buckinghamshire city to Cambridge.
The emphasis on the Oxford-Cambridge region marks a shift away from the Tories' 'levelling up' agenda, in which resources were directed to the 'left behind places' in a bid to emulate the levels of prosperity and opportunity in London and the south east.
And she is expected to endorse a third runway at Heathrow, as well as expansion at Gatwick and Luton - although it will take many years for those developments to happen, if they do. The PM has introduced a new 'growth test' that will mean policies are vetoed unless the can be shown to boost the economy.
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