Rachel Reeves pledges 'no austerity' but warns of 'tough decisions' ahead

Labour party's annual conference

Sorin-Andrei Dojan
clock • 2 min read

Chancellor Rachel Reeves has doubled down on her promise not to bring back austerity measures during her speech at the Labour party's annual conference in Liverpool today (23 September).

Reeves accused the former Conservative government led by Rishi Sunak of spending money that "was not there", contributing to the £22bn fiscal hole, which she said would pose risks "for years to come" if not tackled now.  However, the chancellor added that "there will be no return to austerity" because of the damage done in previous years. Reeves told spending cuts will 'repeat the mistakes of the past' Nevertheless, she described years of Conservative rule as a "a destructive choice for our public services and for investment and growth too", forcing the current government to consid...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Trustpilot