![]() ![]() He says economic growth "must better serve working people and must raise living standards in every community".The Labour leader admits that wealth creation as the top priority has "not always been the Labour Party's comfort zone".He says the " defining purpose" and " obsession" of a Labour government under his leadership will be " raising Britain's productivity growth".He rejects any suggestion that COVID and the war in Ukraine are solely responsible for economic difficulties.He says the economic situation is worse than the economic crises of the late 20th century, and worse than the 2008 financial crash.Sir Keir opens by saying this parliament is "on track to be the first in modern history where living standards have actually contracted", with household income growth down by 3.1%.Here's what the Labour leader said (we updated this post as he was speaking): Sir Keir Starmer has set out what a Labour government's economic plan would look like in a major speech at a Resolution Foundation conference. ![]() The Labour leader says he is having "quite detailed" and "granular" discussions with business so they can "hit the ground running" if they get into government. I think there are other levers that need to be pulled."īut challenged on what he is proposing that is actually different to what the government is saying, he says the government has had 13 years and haven't been successful. Sir Keir says: "Sometimes all of us get into this habit, and it's a habit the Labour Party's had for a long time, which is thinking that the lever that is spend, investment, is the only lever that can ever be pulled. Turning to the substance of the question, Sir Keir says they will "ramp up" to spending up £28bn a year in the second half of the next parliament.īut he caveats that by saying that any spending will be subject to economic conditions and their own fiscal rules. Sir Keir Starmer says for every pound the government spends, he wants to trigger three pounds of private investment, but that isn't happening at the moment due to political instability. Next the Labour leader is taking questions from the chair, Zanny Minton Beddoes, editor of the Economist, and he is asked why he did not mention his previous pledge to invest up to £28bn a year on the green transition. ![]()
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