Chancellor of the Exchequer Rachel Reeves has pledged to place working people at the heart of the government’s economic plans, saying the upcoming Budget will focus on long-term reforms to unlock growth and ease pressures on households.
In a video message released, Reeves said the foundations of the economy have been stabilised over the past year but admitted that “the job is far from done.” She highlighted measures already introduced, including a rise in the National Living Wage for three million workers, early progress on cutting NHS waiting lists, reforms to planning rules to deliver 1.5 million new homes and an additional £120 billion in infrastructure investment.
The Chancellor also pointed to new trade agreements with the US, India and the EU and reforms to Treasury rules to ensure investment is spread across the country. According to the Treasury, recent stability has contributed to five interest rate cuts by the Bank of England, lowering mortgage costs and borrowing for families and businesses.
Looking ahead, Reeves stressed the need to keep inflation and borrowing under control through strict fiscal discipline, while pursuing growth through investment and reform. She said her priorities remain “more money in people’s pockets, an NHS people can rely on and opportunity for all.”
The Treasury has also opened its Budget representation portal, inviting the public and organisations to submit feedback on current policy.
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