Labour will not ‘throw cash at’ UK’s problems, Keir Starmer to tell CBI
By SEAMLESS DAILY
22 November 2021
Speaking to the CBI's annual conference in the Midlands, Starmer will put fiscal discipline at the heart of his party ’ s appeal to a sector Labour believes has been alienated by Boris Johnson ’ s government.
He will also announce the creation of a new skills advisory panel, including former education secretary David Blunkett, to ensure Labour has the right policies on preparing young people for work.
Labour has already made some significant spending pledges, however, including the shadow chancellor's promise of £28bn of green investment each year until the end of the decade, to facilitate the transition to net zero.
The CBI conference is being held across multiple sites and will also feature a speech by the prime minister, who is expected to highlight the prospects for green jobs across the economy.
speaking in port of tyne at the start of the business group's three-day annual conference, the cbi director general, tony danker, will argue the uk now has a "shot at redemption".
speaking at the cbi's annual conference later, he will say de-industrialisation has led to "shuttered high streets and "loss of pride in place".
the government's "levelling up the uk is at the very heart" agenda.
"Since the 1980s, we let old industries die- offering little more than benign neglect for what got left behind- it was an economic policy that was ambivalent about levelling down.
"too relaxed about a brain drain as young people leave home to chase better paid jobs.".
he will argue firm's headquarters are "too often based in london and the south east", with the uk operating as a "branch managers and the back-office based everywhere else".
"We 've spent the past decades living with these consequences.
but now, we 've got a shot at redemption, a chance to regenerate with nascent industries such as biotech, space and cybersecurity as well as the "new industrial revolution"
Mr Danker will say the country's "industrial heartlands" could lead a new industrial revolution "as they did the last" with hydrogen production, off-shore wind, carbon capture, electric vehicles and batteries providing "a chance for these places to be world-leading again".
He will call on government to play "an active role" in creating these new industries, alongside businesses.
Mr Danker has confirmed the CBI was setting up a Centre for Thriving Regions "to co-ordinate the private sector's commitment to levelling up".
"the truth is that in too many sectors, the uk now feels like a branch line economy" he added.
"simply saying the market will fix this is not good enough.
"I don't know a country in the world- including, and indeed especially, the United States- where governments aren't active in economic geography."
Mr Danker argued that while it is businesses rather than government that create jobs and wealth, governments must also play their part to try to "make places better".
He said : "What the UK needs to level up is economic growth in every place.
"The truth is that the UK suffered from de-industrialisation.
"Instead of a branch-line economy- what we want is an economy of many hubs," he said.
"That means using all parts of the country to their full potential."
The chancellor has delayed a review of business rates, and national insurance taxes have been raised to pay for healthcare, increasing the cost of labour.
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