Britain has the potential to lead the world in the new and growing industries of the future. The opportunities are there for the taking. But under the Tories, Britain is in a cycle of managed decline.
While the pandemic and the Russian invasion of Ukraine have hit the global economy, we have fared far worse than our competitors. Britain is currently the only G20 economy, apart from Russia that has failed to recover to pre-pandemic levels of growth.
Yet this week’s Budget failed to provide a long-term plan for our economy. Instead, the headline announcement was a £1 billion pound pensions bung for the 1%. At a time when families across the country are facing rising bills, higher costs and frozen wages, this giveaway is the wrong priority, at the wrong time, for the wrong people.
The Chancellor should think again and make growth his priority. The first mission of a UK Labour government will be to secure the highest sustained growth in the G7 with good jobs and productivity growth in every part of the country making everyone, not just a few, better off.
Read our plan in full here.