Stop saying no to ideas which could help Britain’s economic growth, Chancellor Rachel Reeves tells the Blob_Nhy
Rachel Reeves has told the Blob to stop saying ‘no’ to proposals that could boost growth.
The Chancellor said the Government had ‘become used’ to rejecting ideas, but must change and start saying ‘yes’.
Ahead of a major speech tomorrow, Ms Reeves told MPs last night that the only way to relieve working people of cost of living pressures is through economic growth.
But shortly before she spoke to MPs, Energy Secretary Ed Miliband told a separate group that airport expansion projects should only get the green light if they fell within ‘carbon budgets’.
It comes after the Chancellor has made clear that she believes that her growth agenda should trump Mr Miliband’s green mission.
Speaking at a meeting of the Parliamentary Labour Party last night, she said: ‘Will that growth come easy? No. There are no easy routes out,’ she told. ‘There are always reasons for Government to say “no”.
‘Over the past six months as Chancellor, my experience is that Government has become used to saying “no”. That must change. We must start saying “yes”.
‘Yes to new jobs. Yes to higher living standards. Yes to investment. And yes to growth. And if we get this right – and I know we will – the prize on offer to us is immense.
Chancellor Rachel Reeves (pictured yesterday in Westminster) told MPs on Monday that the only way to relieve working people of cost of living pressures is through economic growth
Ms Reeves’ comments come after she took aim at Britain’s planning laws on her drive for growth. Pictured: The developing skyline in Nine Elms, south London
‘Cranes in the sky. High streets revitalised. The next generation with more opportunities than the past.
‘The sounds and the sights of the future arriving. Wealth created, and wealth shared, in every part of Britain.’
Her comments come after she took aim at Britain’s planning laws – in particular the protections for bats and great-crested newts – on her drive for growth.
Ms Reeves also fired the head of the competition regulator, the CMA, saying he was not on board with Labour’s ‘mission’ to boost economic growth.
The Chancellor is expected to use her speech on Wednesday to endorse proposals for a third runway at Heathrow airport, as well as expansion at Gatwick and Luton airports.
Appearing before MPs on the Environmental Audit Committee, Mr Miliband last night was asked whether airport expansion was compatible with the UK’s climate change aims.
He said: ‘On aviation, the way I’ve always thought about this is, our goal is neither on the one hand to stop people going on holiday [or] stop the economy getting what it needs, nor is it business-as-usual as if climate change is not a problem.
‘And I think that’s a sensible middle ground of this debate.’
But he added: ‘I want to be absolutely clear about this – that any aviation expansion must be accounted for as part of carbon budgets… any aviation expansion must be justified within the framework of carbon budgets, and I can absolutely assure you that that’s the position of the government.
The Chancellor is expected to endorse proposals for a third runway at Heathrow airport, as well as expansion at Gatwick (pictured) and Luton airports
‘So any decisions must be made within that framework and only be able to go ahead if consistent with our carbon budgets.’
Today, the Chancellor will sit down with CEOs to explain how restrictions will be lifted on some pension funds that are performing well so they can invest their surplus funds.
She and the Prime Minister will tell business chiefs that Britain is open for business at a roundtable meeting in the City of London today.
More than £1.1trillion is held by pension funds in the UK, the Government said, and defined contribution pension schemes are set to manage £800 billion worth of assets by the end of the decade.
Ministers want to encourage these pension funds to deliver investment and drive economic growth.
Sir Keir Starmer said: ‘The number one mission of my government is to secure growth, drive higher living standards for everyone, and get more money into people’s pockets.
‘To achieve the change our country needs requires nothing short of rewiring the economy. It needs creative reform, the removal of hurdles, and unrelenting focus.
‘Whether it’s how public services are run, regulation or pension rules, my government will not accept the status quo. Today’s changes will unlock billions of investment, pushing forward in delivering my Plan for Change.’
Ms Reeves added: ‘I know this government and businesses are united on growth being the top priority for our economy, which is why I am fighting every day to tear down the biggest barriers to growth, taking on regulators, planning processes and opposition to this urgent mission.’
