The chancellor has ordered civil servants to compile a dossier on the state of the economy after 14 years of Tory rule. In a speech at the Treasury, she said she had repeatedly warned about the dire state of the public finances during the general election and “what I have seen in the past 72 hours has only confirmed that”.
“Our economy has been held back by decisions deferred and decisions delayed … political self-interest put ahead of the national interest,” she said.
Ms Reeves also pointed out:
Public sector workers faced “difficult choices” on pay
She is prepared for “short-term political pain” to fix Britain’s finances
Housebuilding targets will involve building on some “green belt” and its boundaries will be reviewed
Councils will be given newly restored mandatory targets in the drive to build 1.5 million homes
Labour will not use its large majority to renege on tax promises.
New Treasury analysis shows the economy would be £140bn bigger had it grown at the OECD average since 2010
She said Labour would look at whether to class onshore wind as a nationally significant infrastructure – a move that would allow large farms to get planning approval more quickly.
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