The opposition Labour Party’s chancellor-in-waiting Rachel Reeves pledged a fundamental “course correction” for the UK economy, saying the country needed to invest in growth and solve underlying structural problems to break the grip of stagnation.
Reeves told the prestigious Mais Lecture in the City of London that the country was already “stumbling blindfolded” into an era of bigger state spending by responding to events rather than shaping them in advance. The shadow Chancellor of the Exchequer argued that bolstering job security for workers was essential to improving Britain’s poor productivity growth.
