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Rachel Reeves will promise to make kickstarting economic growth a “national mission”, in her first speech as chancellor.<\/b><\/p>\n
Speaking to business leaders at the Treasury later, Ms Reeves will set out Labour’s plan for the economy and say the era of “chaos and irresponsibility is over”.<\/p>\n
She is also expected to announce she will bring back compulsory house building targets, as part of an overhaul of Britain’s planning rules.<\/p>\n
And she will say that with political turmoil in the France and the US, Britain is now back as one of the most stable places for international investment.<\/p>\n
Former Bank of England economist Ms Reeves was appointed chancellor on Friday, after Labour’s landslide election win.<\/p>\n
She and her team worked through the weekend on this speech to business leaders and investors who have stalled investment in Britain in recent years amid the political chaos of the post-Brexit years and the Liz Truss mini-budget.<\/p>\n
Ms Reeves is expected to announce some immediate loosening of planning red tape that has held back construction, infrastructure, and the energy grid.<\/p>\n
It will be done in the hope that investors will unleash tens of billions of pounds of investment in green industry and housebuilding.<\/p>\n
Mandatory housebuilding targets are also expected to return. <\/p>\n
The Labour manifesto already promised development on so-called \u201cgrey belt\u201d land – which are poor-quality areas in the green belt.<\/p>\n
A moratorium on onshore wind power is expected to be lifted, and there will be extra funds for hundreds of new planning officers.<\/p>\n
She told the BBC on Friday that she was \u201cwilling to have a fight\u201d with those who have delayed and rejected house building and infrastructure investment in the planning system. <\/p>\n
On Monday morning, she will tell business leaders that \u201cwhere previous governments have been unwilling to take the difficult decisions – I will deliver. It is now a national mission. There is no time to waste\u201d.<\/p>\n
“Last week, the British people voted for change. And over the past 72 hours I have begun the work necessary to deliver on that mandate.<\/p>\n
\u201cOur manifesto was clear: \u2018Sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people.”<\/p>\n<\/div>\n<\/div>\n
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The chancellor is also expected to claim, based on new Treasury analysis, that the UK economy is \u00a3140bn smaller than if it had grown at the same rate as other advanced economies.<\/p>\n
She is expected to add: “This could have brought in an additional \u00a358bn in tax revenues last year alone to sustain our public services.<\/p>\n
\u201cIt falls to this new government to fix the foundations.\u201d<\/p>\n
She will not yet announce new tax and spend measures.<\/p>\n
She will meet this week with the Office of Budget Responsibility, and a Budget and Spending Review is expected in the Autumn. She also met with the governor of the Bank of England on Friday.<\/p>\n<\/div>\n<\/div>\n
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<\/picture><\/span>Reuters<\/span><\/div>\n<\/figure>\n<\/div>\n