Labour must focus on risk to global financial stability posed by Trump policies, not only trade | Heather Stewart

Keir Starmer and Rachel Reeves highlight the changing global landscape post-Trump, declaring an end to globalization. Labour's focus on international trade risks downplays internal challenges. As Reeves prepares for IMF discussions amidst tariff negotiations, Labour advocates an agile state to support key industries—yet their financial deregulation stance remains a concern. The Bank of England governor warns against neglecting memories of past financial crises, as Labour seems to cozy up to high finance, promoting partnerships with major firms like BlackRock while regulators face scrutiny. This juxtaposition raises questions about their commitment to stability.

Labour's approach to supporting key industries contrasts with a push to deregulate the financial sector, despite the chaotic global landscape.

Chancellor Reeves emphasizes the need for a strong state in current economic conditions while facing criticism over potential deregulation.

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