
In her first major speech as Britain’s chancellor of the exchequer, Rachel Reeves underscored the new government’s dogged focus on delivering long-term economic growth, declaring it a “national mission”. With sluggish productivity for well over a decade, promises to drive growth are, however, much less important than the plan to deliver it. Labour’s growth strategy is still nascent, though its manifesto and early announcements give a flavour of its plan. One essential element is to unlock investment. Without a sustained increase in both public and private capital expenditure, Labour’s national mission will remain a pipe dream.
蕾切爾•里夫斯(Rachel Reeves)在上任英國財政大臣後的首次重要講話中強調,新政府將堅定不移地致力於實現長期經濟成長,並將其視爲一項「國家使命」。然而,由於十多年來生產率一直低迷不振,推動成長的承諾遠不如實現成長的計劃重要。工黨的成長戰略仍處於萌芽階段,儘管其宣言和早期公告讓人對其計劃有所瞭解。其中一個基本要素是釋放投資。沒有公共和私人資本支出的持續成長,工黨的國家使命將仍然是一場空想。