Over the last twelve years, our economy has been weakened by the Conservative Party mismanagement. Cuts, slow growth and stagnating wages have created a situation where the UK lurches from one financial crisis to another. April saw the economy shrink by 0.3% as the Government failed to introduce measures to tackle the cost of living crisis.

The Labour Party pushed for months for a Windfall Tax before the Conservative Government introduced it. We now need a longer-term strategy to stabilise the economy and provide security for the winter growth. Here’s what Labour would do in government:

• Use the Windfall Tax to create a £600 million contingency fund to provide emergency support for businesses.
  • The support Labour promises to energy-intensive firms will help firms like Vauxhall in Luton struggling with energy rises.
• Cut business rates for small and medium businesses.
  • It would help restore high streets across the UK.
• Provide security for not only this winter but the long-term as well.
  • By insulating 19 million homes over the next ten years, households would save up to £400 a year.
• Increase the energy produced in the UK.
  • It would allow us to increase the focus on renewable energy and protect the UK from fluctuations in global energy prices.
• Implement a long-term strategy to improve the economy’s resilience.
  • Labour’s plan to buy, make and sell more in Britain will strengthen supply chains and work with businesses to improve jobs and wages.
• Protect British firms.
  • A competition and takeover regime will provide more security to businesses, minimising the impact of a recession.