The chancellor spent most of her first six months issuing dire warnings concerning the calamitous state of the general public funds she inherited.
However now, in a dramatic change of tone, Rachel Reeves is celebrating the UK’s financial potentialities.
Impressed by Donald Trump’s financial boosterism, and regardless of the UK’s flatlining progress figures, she informed Trevor Phillips she’s spent the previous few days in Davos “shouting on the world stage about everything our great country has to offer”.
“My enthusiasm and excitement… has never burned brighter.”
However this optimistic message is not simply a part of a brand new worldwide gross sales pitch, a riposte to critics who imagine the chancellor broken investor confidence within the UK along with her gloomy earlier prognosis.
As an alternative, it is a part of the federal government’s drive to reconnect with companies bruised by her tax-raising finances – an try and reveal that financial progress genuinely is its primary precedence – on the expense, maybe, of all else.
After all, the chancellor argues that progress is required to ship the extent of public companies voters anticipate from a Labour authorities – with out speedy enhancements to the general public funds, departments are prone to face austerity-level cuts.
Now we’re lastly getting extra element on the sensible technique to ship the expansion that has proved so elusive for successive governments lately – however most of the measures concerned are extremely controversial.
From lowering planning hurdles to demanding regulators strip out purple tape, in some methods, the Labour authorities is now in search of to enact most of the insurance policies promised by Liz Truss.
Requested concerning the comparability by Trevor Phillips this morning, Ms Reeves did not deny the similarity, arguing solely that “we’re doing practical things to get that growth, not just talking about it”.
On Wednesday in an enormous speech on progress, we’ll hear extra about these sensible steps.
The largest anticipated announcement is concerning the long-awaited enlargement of Heathrow Airport, in addition to plans for Gatwick and Luton.
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File pic: AP
As an emblem of going for progress above all else, it could not get a lot greater, however the purpose the undertaking has didn’t get off the bottom is that so many individuals object to it so passionately – for a variety of causes, from concern over emissions and our web zero commitments to noise air pollution.
Ms Reeves informed Trevor Philips right this moment the choice can be taken with “collective ministerial responsibility”.
Which may be simpler mentioned than carried out.
Beforehand, many members of the cupboard, together with Sir Keir Starmer, Surroundings Secretary Steve Reed and Vitality Secretary Ed Miliband voted towards increasing the west London airport.
Supporting the plans will certainly be uncomfortable for a lot of on the Labour benches, particularly with the Mayor of London so implacably opposed.
Requested this week if he’d think about resigning over it, although, Mr Miliband responded: “Don’t be ridiculous, no.”
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Reeves: ‘Blissful to take a look at’ becoming a member of pan-EU buying and selling group.
Maybe the clearest indication of the federal government’s financial focus comes with the chancellor’s willingness to debate the potential of becoming a member of a European customs grouping, the Pan Euro Mediterranean Conference.
“We are absolutely happy to look at these proposals,” she informed Trevor Phillips – fairly a distinction to the non-committal solutions given by different ministers earlier this week.
The Conservatives are predictably up in arms, with Andrew Griffiths, the shadow enterprise secretary, fast to ring the Brexit alarm bell.
“We must avoid undoing Brexit by the back door by aligning with the EU’s low growth model,” he mentioned.
Whereas the prime minister has lengthy promised a “reset” in relations with the EU, any trace of backpedalling on Brexit is so politically delicate that dialogue about transferring in direction of a better financial relationship is at all times muted.
The very fact Ms Reeves is even trying into that is maybe, greater than something, an indication of their need to point out they’re prepared to contemplate all choices.
However as with the airports, it is prone to be a really very long time earlier than any of those pro-growth intentions have a sensible affect on GDP.
