Prime Minister Keir Starmer emphasizes growth as the top priority for his government, meeting with CEOs to discuss strategies for economic recovery and expansion. The meeting coincides with the establishment of a 'global growth team' and plans to unlock pension funds for business investment.
Keir Starmer has reiterated his commitment to prioritizing economic growth as a key objective of his government. In a meeting with leading CEOs from prominent British companies on Tuesday, Starmer emphasized that the economy is showing signs of recovery and that his administration is dedicated to making growth the cornerstone of all policy decisions.
He highlighted the establishment of a dedicated 'global growth team' composed of 32 Labour ministers and peers who will act as international trade envoys, aiming to expand market access for British businesses and attract foreign investment.Starmer's focus on growth comes amidst ongoing challenges, including subdued economic growth figures and rising borrowing costs. He acknowledged these pressures but expressed confidence in the government's ability to navigate them effectively. To stimulate growth, the government is exploring various initiatives, including unlocking a portion of the £160 billion surplus held in corporate defined-benefit pension schemes. This would allow businesses greater flexibility in managing and investing their pension funds, potentially boosting economic activity.The meeting with business leaders follows a turbulent period for the government, marked by calls for Chancellor Rachel Reeves' resignation. Reeves has faced criticism for her handling of the economy, with some arguing that her policies have been insufficiently effective in addressing the challenges facing the country. However, Starmer has expressed his unwavering support for Reeves, emphasizing her dedication to the government's growth agenda. He stressed that both the government and businesses are united in their commitment to achieving robust and sustainable economic growth
Keir Starmer Economic Growth Labour Government Business Leaders Heathrow Expansion Pension Funds
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