Watch and read Rachel Reeves’ speech today – and read full list of 120 business leaders backing Labour
During her inaugural speech for the general election campaign, Rachel Reeves has pledged to restore growth to Britain.
Speaking to a group of influential entrepreneurs, the Shadow Chancellor plans to promise that he will lead the most growth-oriented Treasury in the history of our nation. He will also mention that, with Keir Starmer at the helm, the Labour party is now dedicated to providing a government that supports both workers and businesses, recognizing that their success is interdependent.
You have the option to view her speech either live or at your convenience. You can access the stream on this platform. Reeves is scheduled to address the audience approximately at 10 in the morning.
Reeves expressed in advance comments that our strategies to expand rely on collaborating with businesses. Our government's mission is to take on significant challenges and grab the upcoming opportunities for growth.
When it comes to the upcoming election, the decision is straightforward: either continue enduring chaos under the Conservatives for another five years, or switch to a new, more stable Labour Party.
Over 120 top executives in the business world declared their support for the Labour party during the upcoming general election on July 4th. Notable among them is Sir Malcom Walker, the founder of Iceland, who has in the past made contributions to the Conservative Party.
A group of business executives have written a public message, published in The Times, stating that they believe the Labour party has transformed and is now willing to collaborate with companies to realize the United Kingdom's complete economic capabilities. They urge others to allow the party to change the nation and steer it towards a prosperous future.
Labour's Business Leaders: Complete List
"Complete Speech Of Rachel Reeves"
In just over a month, the citizens of the United Kingdom will be casting their votes.
To make a significant decision regarding the upcoming fate of our nation.
And what could be a more appropriate place to ponder the upcoming than here at Rolls Royce in Derby.
Escape from the politics that focus on immediate results and the negative mindset of our current time, and observe the epitome of an exceptional British enterprise.
… a worldwide label that represents top quality …
…that still leads the way today in developing innovative technologies necessary to address the difficulties of an ever-evolving world…
... starting from underwater technologies that are crucial for protecting a country, to advancements in carbon-neutral air travel that are at the forefront of the climate revolution.
And a company collaborating with locally owned and operated small and medium-sized businesses in all phases of its production cycle...
This city has a strong connection with this company that dates back over 100 years.
A company based on its history, which we can be proud of, with a plan for the future that we can confidently put our faith in.
Being the Shadow Chancellor has given me the amazing opportunity to journey through the country, where I've had the chance to connect with visionaries, game-changers, and captains of industry from all corners of the UK.
During tough economic situations, they boost my hopes and positivity.
I'd like to propose a straightforward idea today:
The present-day Labour Party has transformed into the most suitable political party for British enterprises.
I aim to describe the main economic divide in this upcoming election and highlight the decision that the citizens of Britain must make on July 4th.
The Conservative Party is predicted to cause an additional five years of turmoil, resulting in a decline for the working class.
Perhaps a new sense of steadiness within the Labour Party.
On election day, Rishi Sunak has a clear message he wants you to believe.
He has already spoken those words.
If the strategy is successful, do not alter it at this point.
The disturbance and uncertainty caused by Liz Truss was only a temporary setback.
The complex issues we encounter are a result of worldwide occurrences - they are not solely his responsibility.
He will advise to refrain from making assumptions about a 14-year-old based on just 49 days of interaction.
I am determined to confront that problem directly.
Although the crises are a worldwide dilemma, we have encountered them in a distinct way.
We have suffered a greater impact compared to other countries because of certain factors.
Due to the economic effects caused by the coronavirus and later on due to inflation and the surge in energy costs...
The reasons behind it can solely be clarified by the decisions taken by the Conservative administrations in our own country.
However, during this election, the Prime Minister desires to focus on whether inflation will decrease this month.
He fails to state the point in time when the increase began.
During his tenure as Chancellor;
Before the Conservative Party decided to reduce taxes for the wealthiest individuals, interest rates and mortgage expenses had already started going up.
He fails to specify the point when it reached its highest level as well...
...during the time he served as Prime Minister.
He fails to acknowledge the families and companies suffering from the effects of the Conservative Party's financial mismanagement at present.
Similar to the household I encountered in Redcar:
The father is completing an apprenticeship program, while the mother is employed at a supermarket.
...who spend each night discussing finances as they struggle to make ends meet.
The proprietor of a little enterprise located in the town of Milton Keynes...
The blogger is discussing a woman who is eager to grow her business, but is confronted with a business rate structure that does not support her efforts.
Close by, at Alstom, there are employees whom I had the pleasure of meeting a few months back...
...that are experiencing the lack of confidence that arises...
If a government doesn't want to work closely with businesses and trade unions to plan for the future, they won't be able to take a strategic approach.
The sole accountable method towards economic policy.
The Conservative party is being disrespectful towards the intelligence of many individuals who are dealing with the aftermath caused by their lack of success.
However, we will not tolerate their behavior and take action against it.
It is important to evaluate the Conservatives based on their actions during the past fourteen years.
The upcoming general election will give the British citizens an opportunity to evaluate the past fourteen years of economic turmoil and decrease caused by the Conservative party.
For a period of fourteen years, taxes have increased to their highest point in seventy years.
The amount of money that a country owes has surpassed twice the previous value.
After the unfortunate mini-budget, the average homeowner who is refinancing their mortgage this year will have to pay an extra £240 each month.
The state of public services is really bad and they are struggling to fulfill their duties. Taxpayers are being requested to give more money, but the quality of services is declining day by day.
Economic development has decreased significantly.
There are twelve strategies for increasing productivity and income, but each one produces a smaller result compared to the previous one.
Giving context to this topic:
Had the Conservative Party managed to achieve the same rate of economic growth as the average of the Organization for Economic Co-operation and Development countries, the United Kingdom's economy would currently be valued at a staggering £150 billion more than its current worth.
An extra £5,000 for each household;
Offering a supplementary £55 billion infusion into our government-funded facilities.
This is their history - and they should be evaluated based on it.
The economy has not been successful under the Conservative party.
The strategy is failing.
Rishi Sunak's move to announce an election before its due time is the most evident indication of this phenomenon.
Why should you have faith in his plan if he himself doesn't trust that it's effective?
They try to insist that Liz Truss was not related to them, but their behavior suggests otherwise.
They still haven't grasped the idea.
They have the same views and opinions.
As the Prime Minister's priorities fade away, what is his final, desperate attempt?
He has failed to fulfill the commitments he made in the last 24 months.
However, they have decided to propose a total of £64 billion worth of tax cuts that do not have any funding.
They presented another one recently.
The Conservatives are unable to specify the means of financing the aforementioned objectives.
What reductions are they planning to implement in the provision of public services?
Which additional taxes will be increased?
Alternatively, will they be financed through additional loans?
So, why would anyone trust them, especially when the tax load has hit its peak in seven decades?
Without any uncertainty, the greatest danger to the economy of Britain would be if the Conservative Party were to remain in power for another five years.
I have greater aspirations for Britain than that.
We don't require unrealistic economic ideas to envision and aspire for a better tomorrow - we simply need to observe our surroundings.
However, alteration is required.
Keir has led us to transform the Labour Party, giving us the opportunity to improve our country.
Providing a government that supports both workers and businesses, recognizing that the success of one directly affects the success of the other.
A gathering that comprehends commerce.
This is effective for companies.
As a politician, I do not share the view that the private sector is something undesirable or essential only for survival.
I have experience working for companies that are not owned by the government.
Prior to my involvement in politics, I had a job in the financial services industry situated in West Yorkshire.
I am aware of the positive impact that a thriving enterprise can bring to areas similar to those.
I am aware that the progress of the economy is linked to the triumph of companies whether they are big, medium or small. There is simply no alternative method.
I'm not discussing the outdated beliefs of the past that promoted trickle-down economics and free market principles.
…however, a fresh sense of collaboration among the authorities and the corporate sector.
A strategy suitable for a world with greater instability.
I am aware that I cannot make any official announcement in terms of policy…
There is no strategy that can be formulated in the government offices in Whitehall...
... that cannot be enhanced by interacting with commerce.
Our blog post will reflect our involvement in the matter.
My aspiration is to head the Treasury department that promotes the highest level of economic expansion and favors business in a manner that has never been witnessed before in our nation.
... with a precise concentration on improving the lives of employees.
Over 120 experienced executives from various industries have endorsed a message, indicating their backing for a Labour administration.
In the business world, people are realizing that Labour is best suited to work with businesses.
The celebration of progression and business.
A couple of years back, it would have been quite surprising to hear such statements from the Labour Party.
Consider the significant progress achieved with Keir at the helm during the past four years.
If we are able to transform this gathering, and make it serve the needs of the labor force;
If we manage to bring it back to the mainstream of political views;
If we manage to revive the commercial activity towards the Labour Party;
I am confident that we can revive the British economy.
The objective is to attract more investment to the United Kingdom.
To revive the economy of the UK.
To restore optimism in the United Kingdom.
By restoring business to the UK, we can provide a brighter future for individuals who are employed.
No matter what the political extremists on the left or right may claim, it is not a matter of choosing between just one of the options.
The Labour Party comprehends that the triumph of businesses is imperative for creating satisfying job opportunities and simultaneously, flourishing ventures rely on efficient labor.
Revitalizing the economy in Britain is the key to generating quality employment opportunities that offer fair compensation.
Attract capital to construct robust neighborhoods with prospering commercial districts.
Increase the amount of cash individuals have readily available.
Be proud of the products and services produced in Britain that are distributed globally.
Our aspirations for expansion rely on collaborating with enterprises.
A government that is driven by a sense of purpose and dedicated to tackling the major issues we are up against, while also being open to the potential advantages that lie ahead.
Furthermore, a ruling administration that places its entire focus on economic stability when devising future strategies.
The upcoming election presents a clear decision between Conservative confusion or Labour steadiness, with the latter implying a shift towards a more stable environment.
We need a strong and consistent state in order to avoid experiencing another mini budget and its negative impact on people's financial situations.
Consistency, which allows both households and enterprises to make long-term plans.
...in order to unite the government, companies, and labor force with a shared goal.
We must confront the significant hurdles of our era.
This will be supported by strong financial guidelines, which will bring down the debt by the conclusion of the government's term.
I will never take risks with public funds because this could jeopardize the financial stability of families.
We have commenced our journey with the intention to continue in the same fashion.
I have always made it crystal clear that we will thoroughly evaluate the expenses for each policy we present and every statement in our manifesto before disclosing them to the public. Furthermore, we guarantee that these expenditures will be financed in their entirety.
There are no excuses, no exceptions, and no contradictions.
The perspective I will adopt in the Treasury will be that of determination and drive.
It is important to be mindful of how we spend taxpayers' money, just as we are mindful of our personal spending habits.
I recall observing my mother diligently scanning her bank account records and purchase receipts at the kitchen table while I was growing up.
We were not in a poor state, but we did not have extra funds.
My mother believed that every single coin was important.
I completely comprehend the situation at hand. It is evident that the responsibility of being a Chancellor lies in the capability to exhibit such an approach towards the finances of the citizens.
The maintenance of stability, just as in the past when Britain experienced economic prosperity, hinges on having robust institutions.
I began working as an economic expert at the Bank of England.
I understand the importance of stability and insulating the economy from short-term political changes in order to achieve economic success and effectively combat inflation.
Labour has decided not to participate in the act of damaging the reputation of the Treasury or Bank of England, and neither will I. This is not a strategy that the Tories must adopt.
I am going to implement a fresh monetary restriction;
If a government decides to bring about considerable and lasting modifications to its tax and expenditure policies...
The independent Office for Budget Responsibility will make a prediction about it.
To ensure that a mini-budget doesn't happen again in the future.
There must be another meaning to the word "stability", as I've repeatedly heard from various business professionals about how crucial this concept is.
Ensuring the accuracy and fairness of our tax system is a priority for our government. We strive to maintain transparency and eliminate any discrepancies or uncertainties in the tax process. This not only promotes trust in our system, but also encourages compliance among taxpayers. We believe that every citizen should pay their fair share, and we work diligently to make sure that this happens. By promoting certainty in the tax system, we can all benefit from a more stable and prosperous society. So, let's all work together to make sure that our tax system is reliable, trustworthy, and fair for everyone.
That's the reason why we have pledged to release a plan for business taxes...
... during the period of the parliament, in the initial half-year of a Labour administration.
This is the reason why there will be a limit on the current rate of corporation tax throughout the next parliamentary term.
This is the smallest percentage when compared to all the economies in G7.
If our ability to compete is in danger, we will take action.
Our top priority will be ensuring stability is present in all of our actions.
However, just being stable is insufficient.
Securonomics includes a vital component which is key to its overall framework.
A fresh method that acknowledges the need for innovative solutions to address the economic difficulties of our uncertain times.
In order to address our low levels of investment, it is imperative to have both stability and a strategy for improvement.
Currently, the United Kingdom is the sole member of the G7 nations whose investment level stands beneath 20 percent of its Gross Domestic Product (GDP).
I do not believe that the government can solve this problem alone. The key to economic growth is the investment made by businesses.
A fresh collaboration between the government and private enterprises will result in the provision of investments.
Incorporated within a contemporary approach to industry;
Furthermore, a brand new financial reserve is being established called the National Wealth Fund.
The government is putting in a lot of money to attract private investors to invest tens of billions of pounds.
...to generate employment opportunities in upcoming fields, decrease expenses, and attain self-sufficiency in energy consumption.
We will also require a transformation.
Stop avoiding the tough choices.
Stop avoiding powerful companies and organizations.
Stop settling for mediocrity and believing that things cannot be better.
We are planning to revamp our political system…
... transferring the authority from Westminster to our local and regional leaders, so they can effectively serve their respective regions.
Our goal is to improve our system for developing skills...
...to provide individuals who are employed with an opportunity to thrive in a dynamic work environment...
…getting rid of the Apprenticeship Levy and introducing a fresh Growth and Skills Levy.
We are going to improve our system of planning...
... confronting the main hindrance to development and financial involvement in order to revive the construction industry in the UK.
Our aim is to provide better protection for employees through the implementation of a fresh strategy called the New Deal for Working People.
We'll establish a stronger bond with our neighboring countries in the European Union to lessen the weight of administrative work and obstacles for British businesses.
There are three new agreements that have been made. One is between veterinarians, one is about visas for touring, and the third is about recognizing professional qualifications.
You're going to listen to those three terms often from me.
As they form the components of an authentic strategy for what lies ahead.
Another solution instead of controlled dwindling.
I can confidently say today that the Labour Party is the best fit for the British business sector.
When it comes to the upcoming election, the decision couldn't be more straightforward:
The Conservatives have started a cycle of mayhem and deterioration that will continue for another five years.
Perhaps a transformed Labour Party;
Prioritizing security for the welfare of individuals who work.
Our main focus for the upcoming election will be the economy.
We will reveal the harm caused by the Conservative party on a daily basis…
...the additional harm they endanger to cause.
We will present the different course of action proposed by the Labour party.
Five assignments for ten years of rejuvenating the nation.
Here are six initial actions that can guide us towards a more improved Britain.
Reducing the amount of time patients have to wait to receive treatment from the NHS by adding 40,000 fresh appointments per week.
Introducing a fresh initiative called the Border Security Command to eradicate unlawful organizations and fortify our nation's borders.
Creating a brand-new clean energy corporation that is publicly owned, goes by the name of Great British Energy.
Putting a stop to disruptive conduct The authorities are taking a firm stance against antisocial behavior. They will not tolerate disruptive conduct that affects others.
Hiring 6,500 fresh educators;
Every aspect has been accounted for and the necessary funds have been provided for each one.
All those dreams based on a solid foundation of financial security.
The building blocks for rejuvenating the nation for ten years.
Being the Chancellor of the Exchequer would be the biggest honor that I could ever have.
Avoid flaunting your wealth or position.
Instead of being used as a mere stepping stone in one's professional journey;
I am aware of the accountability that will be attached to it.
I am aware that it will be a difficult task.
Achieving success will require a great deal of effort.
This will necessitate making more difficult decisions.
I am prepared for it.
As I journey across the nation, I observe immense possibilities in every location I visit.
In fast-paced and thriving British enterprises such as this.
In the laboratories and educational facilities of our top-ranked universities throughout the world.
Furthermore, the skill and dedication of laborers play a significant role.
The moment has arrived to unleash that hidden ability.
Put an end to disorder and deterioration by flipping the page.
Embark on a fresh page for the United Kingdom.
Explore additional information about the 2024 election by browsing through our coverage on the topic.
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