There will be no return to austerity.
Unlike the Conservatives, Labour will never sideline the Office for Budget Responsibility (OBR) for political convenience.
Instead, we will strengthen the role of the OBR.
Labour will safeguard taxpayers’ money.
We will end the link between access to ministers and an inside track for public contracts.
And we will not tolerate fraud or waste anywhere, whether in social security or the excessive use of consultants.
Alongside strong national finances, Britain needs resilient family finances too.
The Conservatives have left families struggling with the cost of living.
Labour will take action to support families, by tackling the underlying causes of the crisis.
We will bring down the cost of energy.
We will reduce food prices by removing barriers to businesses trading.
We will make housing more affordable,
expand access to childcare,
and make work pay.
with a strong, independent Bank of England – which will continue to target stable inflation of 2 per cent.
The Conservatives have raised the tax burden to a 70-year high.
We will ensure taxes on working people are kept as low as possible.
Labour will close this loophole.
We will increase registration and reporting requirements,
strengthen HMRC’s powers,
invest in new technology and build capacity within HMRC.
This, combined with a renewed focus on tax avoidance by large businesses and the wealthy, will begin to close the tax gap and ensure everyone pays their fair share.
Labour will stop the chaos, turn the page, and return to the foundations of national security,
Deliver economic stability with tough spending rules
A new partnership with business to boost growth everywhere
A National Wealth Fund to invest in jobs
Planning reform to build 1.5 million new homes
Devolution of power across England
A New Deal for Working People
Sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people.
That is why it is Labour’s first mission for government.
It means being probusiness
and pro-worker.
We are the party of wealth creation.
This election follows the chaos of the Conservatives’ ‘mini-budget’ and an unprecedented fall in living standards.
Their miserable economic record over the past 14 years has seen productivity and wages flatlining, leaving British families significantly poorer than those in France or Germany.
This decline is rooted in two failures.
First, an inability to accept that a strong economy can only be built on the contribution of every community and every person – the many not the few.
Second, a failure to acknowledge that sustainable growth requires government to be a strategic partner with business – that markets must be shaped, not merely served.
These twin failures have led to greater economic insecurity – in the financial resilience of households, but also in our national economy – at the very time when our world has become less stable and secure.
The Conservatives have failed to grasp the implications of a new era of rising global competition and tension, instead leaving our economy on an increasingly shallow and insecure footing.
It is time to turn the page.
Labour will restore stability, increase investment, and reform our economy
We will embrace a new approach to economic management – securonomics – that understands sustainable growth relies on a broad base and resilient foundations.
Our approach will depend on a dynamic and strategic state.
This does not mean ever-growing government, but it does mean a more active, smarter government that works in partnership with business, trade unions, local leaders, and devolved governments.
Labour will stop the chaos and support business through a stable policy environment – strengthening our economic institutions, and giving investors the certainty they need to fuel growth.
Labour will seek involvement from industry, trade unions, and civil society in our plans for growth, so they can contribute to building a stronger economy in all parts of the country.
We will strategically use public investment where it can unlock additional private sector investment,
create jobs,