LABOUR will not be “distracted by the siren calls” from the right or left, Sir Keir Starmer is expected to say today as he sets out his party’s plans to reboot the economy.
In a keynote speech in Liverpool, the Labour leader is set to make a nod to the election pitches of former PM Tony Blair by stating that the priorities for the next Labour government are “growth, growth, and growth.”
The Labour leader will argue that there is “no task more central to my ambitions for Britain than making the country and its people better off. This is why I am clear Labour will fight the next election on economic growth.”
As part of Labour’s plan to reboot growth, Sir Keir is set to announce that his government will establish an industrial strategy council as “a permanent part of the landscape that sets out strategic national priorities that go beyond the political cycle. Holds us to account for our decisions. And builds confidence for investors that will boost long-term growth and productivity.”
Reviewing the last decade of economic performance, Sir Keir is expected to say: “Whether it’s the cost-of-living or recovering from the pandemic our economy is weaker than its competitors. Less resilient. Brittle. And ultimately, we are all poorer for it.”
And Sir Keir is expected to say that “rebooting our economy” will be the “defining task” the next Labour government.
The new approach will be “to maximise the contribution we all make to national prosperity.”
Sir Keir will say Labour’s approach to growth will be a challenge to the traditional instincts of his party.
“It pushes us to care as much about growth and productivity, as we have done about redistribution and investment in the past. Not to hark back to our old ideas in the face of new challenges.”
The Labour leader is also set to argue that “low-growth economies can’t rise to meet the challenges of the future” and will specifically take on those who argue the challenge of climate change means we should not be pushing for growth.
“We will not be distracted by the siren calls — from the right or the left — that say economic growth and net-zero do not go together.”