Rachel Reeves emphasized the importance of the proposed planning reforms in England and Wales, stating that they can significantly contribute to driving economic growth and bolster the government's fiscal capacity.
At a Labour conference event, she indicated a desire to collaborate with the OBR to provide robust evidence of how these reforms can stimulate growth, acknowledging the past skepticism from the OBR.
Historically, the OBR has dismissed the effectiveness of similar planning overhaul promises in the past and Reeves recognized the uphill battle in changing those perceptions.
Treasury sources highlight that if the OBR adjusts its growth forecasts upwards, it could potentially lead to increased tax revenue forecasts, providing more flexibility for government spending.
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