Labour’s Economic Plan Unveiled by Rachel Reeves, Affirming Party’s Business Credentials

Labour Declares Itself as “Natural Party of British Business” in Major Speech

In her first major speech of the election campaign, Labour’s shadow chancellor Rachel Reeves asserted the party’s support for British businesses and workers. Speaking at Rolls Royce’s factory in Derby, Reeves sought to convince voters that Labour has undergone a positive transformation and is now pro-business and pro-worker.

Reeves highlighted Labour’s plans to bring the UK closer to the European Union and attract investment, stating that the party is committed to “bringing growth back to Britain” and delivering a better future for working people. She also referred to an open letter signed by 120 business leaders in support of Labour as evidence of the party’s changed stance.

Reeves stated, “Today I want to put forward a simple proposition that this changed Labour Party is today the natural party of British business.” She emphasized the importance of a strong partnership between businesses and workers, stating that each relies on the success of the other.

Addressing concerns about high CEO salaries, Reeves said, “I want businesses to be successful, and that includes paying people at the top properly for the work that they’re doing.” However, she also stressed the need for fair wages for ordinary working people and pledged to turn the minimum wage into a real living wage.

In addition to its pro-business stance, Labour also announced its plan to revamp workers’ rights with the “New Deal for Workers”. The policy promises to work with employers and unions to provide workers with the security they deserve. However, the party faced criticism from Unite’s general secretary Sharon Graham, who accused them of “watering down” the deal.

Reeves also announced Labour’s plan to forge a closer relationship with the European Union, with measures such as a new veterinary agreement and mutual recognition of professional qualifications. She stated that this would ease the burden of bureaucracy and red tape on British businesses.

As the UK’s first female chancellor, Reeves emphasized that she is not a socialist but a social democrat. She ended her speech by urging voters to choose between “five more years of chaos” with the Conservative Party or a “changed Labour Party” that promises stability and progress for working people.

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