The UK’s first female chancellor will promise to ‘fix the foundations’ of the economy in her first speech in the role.
Chancellor of the Exchequer, Rachel Reeves leaves No 11 Downing Street after being appointed the first female chancellor
Labour will “fix the foundations” of the British economy, she will say, arguing that 14 years of Tory rule had cost £140 billion in lost growth.Sir Keir Starmer’s administration has made faster economic growth, and the tax revenues that would flow from it, a key plank of its strategy to fund public services which are struggling for cash.
Speaking in London, Ms Reeves will tell business chiefs: “Where governments have been unwilling to take the difficult decisions to deliver growth – or have waited too long to act – I will deliver.She will set out the steps the Government has taken to “fix the foundations of our economy, so we can rebuild Britain and make every part of our country better off”.
“Had the UK economy grown at the average rate of OECD economies since 2010, it would have been over £140 billion larger. Labour’s manifesto committed to a 10-year infrastructure strategy to guide investment plans and give the private sector certainty about the project pipeline and the creation of a National Infrastructure and Service Transformation Authority to oversee schemes.
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