First conference speech for @RachelReevesMP as Shadow Chancellor.
“The Conservatives, missing every one of the debt and deficit target they set themselves. With inflation rocketing, people feeling the squeeze, at the checkout, at the petrol pump.”
“The Conservatives, missing every one of the debt and deficit target they set themselves. With inflation rocketing, people feeling the squeeze, at the checkout, at the petrol pump.”
“The Tories have the gall- the gall, to make working people pay for their failing.”
Says Labour’s approach will be about private, public working together.
Not entirely clear how Johnson would disagree with that.
Says Labour’s approach will be about private, public working together.
Not entirely clear how Johnson would disagree with that.
Most explicit I’ve heard a senior Shadow Cabinet minister on Brexit. Reeves saya (in reference to supply chain “chaos”) that Labour will “yes, clean up the Tories’ Brexit mess.”
Reeves lays out Labour approach to tax
1) Will make “tax system fairer”- more at the top to pay. “As Chancellor I will not balance the books on the backs of working people” (major applause)
2) Our old friend tax loopholes/evasion: “we will look at every single tax break.”
1) Will make “tax system fairer”- more at the top to pay. “As Chancellor I will not balance the books on the backs of working people” (major applause)
2) Our old friend tax loopholes/evasion: “we will look at every single tax break.”
Reeves: “Conference, here’s the truth. Private schools are not charities.” Says the money on their charitable status will go straight back into the state system (huge applause).
Reeves said third principle (though not sure it’s a principle) is about high streets. Calls on government to freeze business rates and pay for it by a levy on online companies.
Reeves with a neat line: “Conference, if you can afford to fly to the moon, then you can afford to pay your taxes here.”
Ok here’s some real meat- Reeves says the next Labour govt will abolish business rates altogether. Says “it will make you our system of biz taxation fair for 21st century.”
Big commitment. Rates are a big income raiser for local govt. she doesn’t say what Lab will replace with.
Big commitment. Rates are a big income raiser for local govt. she doesn’t say what Lab will replace with.
Reeves taking aim at Covid contracts (and, consciously or not, echoing Margaret Thatcher): “We want our money back.”
Reeves says Labour will create an Office for Value for Money, to scrutinise government spending and stop waste.
Reeves announces £28bn of capital investment to fund a green transition:
“I will be Britain’s first Green Chancellor.”
Taken together the pledge to abolish business rates this has been an expensive speech.
“I will be Britain’s first Green Chancellor.”
Taken together the pledge to abolish business rates this has been an expensive speech.
That £28bn is PER YEAR.
It’s a...big pledge
It’s a...big pledge
And that’s it. The hall lapping it up. Embrace between Starmer and Reeves.
People have been talking Reeves up ever since she entered Parliament. Today felt like a day she met that ambition. Unexpected barnstormer of a speech. Leant into some economic populism, some pretty radical high spending pledges wrapped in language of restraint/moderation.
But though delivery and style was assured (not always a given for Reeves historically) questions arise about the detail, principally: a) how do you replace biz rates and their £30bn of revenue b) £28bn pa on green transition is a big commitment, does it hem her in on other things
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