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.