Keir rules out ‘money tree’ economics in PM race blast
KEIR Starmer will today vow there will be “no magic money tree economics” if Labour gets to power as he takes a dig at the Tory leadership hopefuls.
He will hit out at Rishi Sunak and Liz Truss’s Iron Lady hero worship, calling it “Thatcherite cosplay” as he promises under his party the economy would be “strong, secure and fair”.
The rivals to take over from Boris Johnson as PM have been engaged in a bitter race to win over Tory members by claiming the Thatcher mantle.
Truss has said she would borrow more to fund tax cuts, even though interest rates could be pushed up, while Sunak added he would take a more cautious fiscal approach.
But during a speech in Liverpool, Starmer will say “growth, growth, growth” to pull Britain out of economic decline will be the next Labour government’s priority.
He will channel Tony Blair’s “education, education, education” mantra to underline that growth will be his focus if he gets to No10.
It marks a shift away from Labour’s previous focus on redistribution and investment to bolster the economy.
The Labour chief will reveal plans for an Industrial Strategy Council that would hold his Government to account.
Starmer will also slam the Tory government’s record.
He will say: “Whether it’s the cost of living or recovering from the pandemic, our economy is weaker than its competitors. Brittle.
“With me and Rachel Reeves, you will always get sound finances.”
Starmer is set to hit back at any suggestion economic growth and the UK’s push for net zero are incompatible.
Truss and Sunak have been lukewarm about climate change commitments.
It comes after Shadow Chancellor Reeves said Labour may pledge tax cuts for millions at the 2024 poll.
She said workers should “keep more of their money” – funded by a possible hike on those who profit from shares.