UK (Parliament Politics Magazine) – Chancellor Rachel Reeves admits that many working people aren’t feeling better off under Labour yet, so pledging her Spending Review will accelerate growth.
As reported by the Telegraph, Chancellor Rachel Reeves concedes that not enough people are yet feeling the benefits of a Labour government in terms of improved financial well-being.
She asserted the government “is making progress,” highlighting interest rate cuts and wage growth as indicators.
Ms Reeves indicated that her upcoming Spending Review, set for Commons announcement tomorrow, would prioritize speeding up improvements in living standards.
What did Rachel Reeves say about the Spending Review and working people?
Addressing at the GMB union’s conference in Brighton, Rachel Reeves stated, “I know that not enough working people are yet feeling that progress, and that’s what tomorrow’s Spending Review is all about – making working people better off, investing in our security, investing in our health, investing in our economy.”
She said, “This Government is going for growth because that is the best way to create jobs, boost wages, lift people out of poverty, and sustainably fund our schools and our hospitals and all the public services we rely on. And we’re doing things differently because, unlike the Tories, I don’t think that the only good thing that a government can do is get out of the way. I believe in an active government, working alongside industry and trade unions to drive our shared prosperity.”
In her speech, Ms Reeves also slammed Nigel Farage and Reform UK, aiming to strengthen Labour’s position on the left.
What did Rachel Reeves say about high energy prices and the UK industry?
According to Rachel Reeve, soaring energy costs are making certain areas of the UK economy “uncompetitive.”
An attendee at the GMB conference highlighted the need for “urgent action” to lower energy prices for the ceramics and pottery industry.
Ms Reeve stated, “I absolutely get the point that you make and people in this room will know that it is ceramics, it is steel, it is cement, it is agriculture, it is a whole range of sectors where energy prices are making our British businesses uncompetitive with our counterparts around Europe where energy prices for industry are lower.”
She said the government intends to reveal its new industrial strategy in the coming days, adding, “We will absolutely come forward with a plan to ensure that our intensive energy industries in the UK including the potteries industries in Stoke and other parts of the Midlands can be competitive.”
What did Rachel Reeves say about welfare cuts and the current system?
Rachel Reeves argued in favour of the government’s welfare reductions, stating the existing system “is not sustainable.”
A GMB representative informed the Chancellor that the reforms could subject three million households to increased hardship, labelling the proposed changes “wrong” and advising the Government to reconsider.
Ms Reeves stated, “We are in a situation today where despite the number of people in work rising in almost every country in the world since the pandemic, people of working age out of work, economically inactive, is increasing in Britain.”
She said, “And the last Conservative government didn’t do nearly enough to support people, including people with sickness and disability challenges back into work. That is why we promised in the spring statement a few weeks ago to put £1 billion into supporting people into work.”
The chancellor added, “The current system that we have today is not sustainable and I want to ensure that the welfare state is there for future generations but to do that we do need to make sure that everyone who can work is given the support and the dignity that work can provide for so many people.”