Chancellor Rachel Reeves Vows to Boost UK Living Standards with Strategic Investments Ahead of Autumn Budget

Chancellor Rachel Reeves pledges to attract investment to the UK to enhance quality of life

In preparation for the upcoming autumn budget at October's end, the chancellor aims to shift the government's prevailing pessimistic narrative.

Political correspondent @alixculbertson

Monday, 23rd of September, 2024 at

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Rachel Reeves has expressed her desire for the UK to become "the premier location for launching and expanding a business," while committing that Labour will attract investments to the country.

In an interview with Sky News prior to her main address at the Labour conference today, the chancellor declared that her government would foster unprecedented economic growth by ensuring stability.

Stay updated on politics: News from the Labour Party conference

Ms. Reeves stated, "Our objective is to become the most pro-growth government in the nation's history, recognizing the vast possibilities within the creative sectors, professional services, and tech industries, especially in low carbon technologies."

"I desire for those employment opportunities to be located here in the UK

"The competition is fierce worldwide for these positions, yet I am committed to implementing the necessary reforms. I am confident that these changes will attract investment to Britain, boost living standards, and enhance financial prosperity for our citizens."

"Dynamic neighborhoods, revitalized main streets, and making Britain the premier location for launching and expanding businesses. This is my goal."

Ms. Reeves announced her plans to outline the government's strategy in her noon speech today in Liverpool.

She reiterated the Labour Party's commitment to keeping VAT, income tax, and national insurance rates unchanged, as stated in their manifesto

The chancellor is anticipated to reveal some modifications during the Labour conference, but significant announcements will be reserved for the autumn budget scheduled for October 30.

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Critics have labeled Sir Keir Starmer's administration as overly pessimistic since its inception in July following a significant electoral win. However, Ms. Reeves seemed to somewhat shift that perception recently.

She expressed her belief: "By restoring stability and overhauling our economy, I've never felt more positive about the future of our country."

"By mastering this, the possibilities for our nation's success are limitless."

"I am committed to tapping into our true capabilities by fostering stability, implementing reforms, and importantly, increasing investment. This approach is key to addressing the sluggish growth that has plagued our economy over the past several years."

Conservative MP Gareth Davies, serving as the shadow exchequer secretary to the Treasury, charged the chancellor with employing a "discredited narrative about the economic legacy she inherited to dodge accountability for her decisions."

He criticized her for allocating "billions for significant wage increases in the public sector, aimed at satisfying trade union supporters, funded by taking £300 from retirees, while simultaneously accepting thousands in complimentary clothing and lavish vacations as she advises families to cut back." "She needs to accept accountability for her political decisions, both now and in her initial budget presentation. We will ensure Labour fulfills the commitments they've declared," he stated.

Further information: Labour needs to clarify vague policy specifics to progress beyond controversy. Starmer is urged to openly dismiss the individual responsible for the Sue Gray leak information.

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Organizations depend on contributions

The controversy surrounding Labour politicians receiving significant contributions has cast a shadow over the start of Labour's first conference in power after 14 years, with Sir Keir receiving more donations than any other Member of Parliament.

Ms. Reeves disclosed that the £7,500 contributed towards her wardrobe came from "an old friend," who intended to support her campaign, noting that this sum is relatively modest compared to other donations she has received.

"She expressed her gratitude for the support to Sky News, noting it had a significant impact on her."

"I never intended to pursue this path within the government. As chancellor, I will not be continuing with it."

She acknowledged public concerns but emphasized that political parties and politicians depend on donations for campaigning, which she believes is appropriate since taxpayer money should not be used for this purpose.

Stay informed about the most recent developments in the UK and globally by tuning into Sky News.

Ms. Reeves stated that Labour MPs have openly disclosed their donations, noting that the party has received an unprecedented number of contributions.

"She expressed gratitude for the contributions, noting that they assist in their efforts to win elections and implement the necessary transformations the nation urgently requires."

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