Rachel Reeves, the newly appointed UK Chancellor, stressed the urgent need to accelerate economic growth in the country.
In his speech to business leaders in London, Reeves highlighted the need to boost infrastructure construction, with a particular focus on wind energy and housing.
“There is no time to waste in boosting economic growth in Britain,” Reeves said, stressing that it was essential for the country to “rebuild”.
He announced the end of the ban on onshore wind power in England, a move Labour saw as a blockade due to local opposition to the projects. The minister said decisions on onshore wind power would now be made at a national level, not a local one.
The Labor government has committed to doubling onshore wind capacity by 2030. In addition, Reeves pointed to the promise to build 1.5 million homes, as part of the first measures taken to boost Economy.
1
UK economic crisis
Reeves criticised the economic management of the past 14 years under Conservative governments, describing it as a legacy of “chaos and economic irresponsibility”.
Britain’s finances have been hit by Brexit, the pandemic and inflation, which have weakened people’s purchasing power. Although the economy has shown signs of recovery in recent months, public finances remain fragile.
With limited room for manoeuvre in the budget, Reeves insisted the government would enforce “tough rules” and maintain “iron discipline” in public finances. During the election campaign, Labour’s platform was cautious on spending and new revenues through tax increases.
he commitment The new government’s goal is clear: to build a stronger, more sustainable economy, based on key infrastructure and renewable energy, while maintaining responsible fiscal management.
“Creator. Devoted pop culture specialist. Certified web fanatic. Unapologetic coffee lover.”