Rachel Reeves goes for growth on house-building

No one can accuse the new government of moving slowly. Over the weekend Labour gave strong indication that both NHS reform and prison reform are going to be at the top of their agenda. But the staple offer of the new government remains what was promised throughout the election campaign: a sustained campaign to bring meaningful economic growth back to the UK. This morning, Chancellor Rachel Reeves starts to lay out those plans.

Speaking to business leaders at the Treasury this morning, Reeves will reiterate that boosting GDP is a ‘national mission’ and the ‘only route’ that will improve ‘the prosperity of our country and the living standards of working people. It’s an uphill battle Reeves has on her hands: even the best forecasts for UK GDP in the coming years don’t exceed 2 per cent. This is still below what would be necessary to sustain public service spending promises without having to make painful decisions on taxing and spending.