"The chancellor's outriders have also been arguing that a change of personnel in No 11 could trigger a damaging crisis in the bond markets that would drive up the government's borrowing costs. Labour Growth Group Chaired by Milton Keynes North MP Chris Curtis, who described Streeting this week as a once in a generation talent, the Growth Group has conveniently just published a policy prospectus. Grandly titled An Honest Day: a new economic settlement for Britain, it argues that too much weal"
Labour economic policy is split into overlapping camps that generate competing proposals for the government’s future direction. One camp led by Rachel Reeves points to stronger-than-expected growth as evidence for a plan centered on AI opportunities, devolving more tax revenues to metro mayoralties, and negotiating a closer trading relationship with the EU. Reeves rewrites fiscal rules to permit more public borrowing for investment while balancing day-to-day spending with tax revenues, paired with higher taxes focused on higher earners and businesses. She also favors targeted household support for the less well off rather than across-the-board measures, and plans further detail on shielding consumers from inflation. Another camp warns that leadership change could trigger bond market instability and higher borrowing costs, while a Labour Growth Group promotes an alternative economic settlement.
Read at www.theguardian.com
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