Chancellor tells Labour conference it’s ‘not progressive’ to fail to balance books amid rising welfare bill as borrowing costs climb to record high.
John Healey has pledged to use next month’s budget to inject hope into Britain’s economy while sticking to the government’s fiscal rules, arguing there is “nothing progressive” about losing control of public finances.
Insisting he would balance the books while fleshing out Andy Burnham’s plans to strengthen “growth in every postcode”, Healey said he and the prime minister were in “lockstep” in their commitment to balance the books.
Teeing up a tough budget, in which Burnham has said “difficult decisions” will need to be taken, Healey said the government needed to hold firm in its main fiscal rule needing day-to-day spending to be matched by revenues by 2030.
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Chancellor tells Labour conference it’s ‘not progressive’ to fail to balance books amid rising welfare bill as borrowing costs climb to record high.
Price of diesel on UK forecourts reaches all-time high.
John Healey has pledged to use next month’s budget to inject hope into Britain’s economy while sticking to the government’s fiscal rules, arguing there is “nothing progressive” about losing control of public finances.
In his first speech as chancellor to Labour conference, Healey said that next month’s anticipated tax-and-spending event would need to take into account a challenging global backdrop.
Setting out measures to support jobs and growth, the chancellor announced a new local apprenticeship service, led by mayors, targeted at young people to deliver “thousands more apprenticeships” across the country.
Insisting he would balance the books while fleshing out Andy Burnham’s plans to strengthen “growth in every postcode”, Healey said he and the prime minister were in “lockstep” in their commitment to balance the books.
In a speech aiming to strike a balance between promising to fund the new prime minister’s priorities while committing to fiscal discipline, Healey drew a comparison with the 1990s when he was an adviser to Gordon Brown.
Teeing up a tough budget, in which Burnham has said “difficult decisions” will need to be taken, Healey said the government needed to hold firm in its main fiscal rule needing day-to-day spending to be matched by revenues by 2030.
He also sought to draw a distinction between Labour’s approach and that of the Conservatives, saying Britain was suffering from the “reckless actions” the party had taken since 2010.
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