itemprop=description content=LABOUR have pledged to focus on promoting economic growth as the answer to the cost of living crisis while warning “you cannot tax and spend your…
LABOUR have pledged to focus on promoting economic growth as the answer to the cost of living crisis while warning “you cannot tax and spend your way to economic growth”.Reeves said a Labour government would increase state investment in industries, introduce a “genuine living wage” based on the cost of living and introduce new rules to slash Government spending on consultants.
“It is investment that allows businesses to expand, create jobs and compete with international rivals with new plants, factories and research labs coming to Britain, not France or Germany or America.”She added: “So, Labour will aim to restore investment as a share of our GDP to the level that it was under the last Labour government and to bring us in line with our peers, adding an additional £50 billion to our GDP every single year, worth £1,700 for every household in Britain.
"So, we will set that new national wealth fund a target: for every pound of investment that we put in, we will leverage in three times as much private investment.” Her plans were backed by TUC general secretary Paul Nowak, who said: “Labour’s plan for decent work and increased investment will rebuild our infrastructure hand in hand with unions and employers, and deliver the economic growth and boost to living standards this country has been crying out for.”
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