Chancellor’s fiscal rules will hold back promises of investment
Rachel Reeves offered little about how government will rewire unfair economic system in conference speech
23 September 2024
Responding to the Chancellor’s speech today at Labour Party Conference, Danny Sriskandarajah, chief executive of the New Economics Foundation, said:
“The Chancellor is right to raise her ambitions for the economy and recognise the benefits of investment. However, these can only be unlocked if she is willing to drop the outdated and arbitrary fiscal rules, start borrowing responsibly and tax wealth properly.
“While the Chancellor spoke about the previous government’s mistakes in creating an economy that benefits only a few, she said little about how this government will rewire our deeply unfair economic system.
“Real change will only begin when the government invests properly in the things that will improve peoples’ lives and bring our economy back to life, such as better public services, home insulation to cut our bills and decent social security to support people into long-term jobs.”
ENDS
Contact
James Rush – james.rush@neweconomics.org
Notes
The New Economics Foundation is a charitable think tank. We are independent of political parties and committed to being transparent about how we are funded.
