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Starmer backs Reeves’ budget, labels it as “moment of personal pride”
(MENAFN) Reports indicate that British Prime Minister Keir Starmer has expressed strong support for last week’s budget, describing the fiscal package presented by Chancellor Rachel Reeves as a “moment of personal pride.”
Speaking at an event in central London on Monday, Starmer said the budget reflected his long-standing goal of reducing poverty, highlighting initiatives such as lifting the two-child benefit cap. He described the measures as “necessary” but “fair” and acknowledged that “tax rises do make life harder for people,” while emphasizing that further cuts to public services or increased borrowing had already been “tested to destruction.”
Starmer cited recent projections from the Office for Budget Responsibility, which noted lower productivity in recent years, as evidence that “austerity scarred the long-term productive capability of this country.”
On economic growth, he said the budget was aimed not only at easing the cost of living but also at providing “security” for citizens. “When it comes to economic growth, better living standards, we’re confident we can beat the forecasts. We’ve already beaten them this year. We are in control of our future. We’ve already struck trade deals. They’re attracting billions of pounds of investment," he stated.
Starmer outlined measures designed to remove obstacles for businesses across sectors, including planning, industrial policy, pension reform, artificial intelligence, and capital investment, noting that the budget includes initiatives to “keep the green light for the world’s best entrepreneurs.”
He argued that these reforms supported his view that the budget was “good for growth” and presented them as part of the UK’s ongoing economic renewal.
The prime minister also emphasized the importance of welfare reform and discussed Britain’s post-Brexit relationship with Europe, stating that “the Brexit trade deal has harmed the economy” and advocating for closer ties with the EU.
On regulatory matters, Starmer referenced a recent nuclear regulatory taskforce report that criticized “pointless gold plating, unnecessary red tape, well-intentioned but fundamentally misguided environmental regulations.” The report noted that Britain remains the most expensive country to build nuclear power plants, and Starmer said he wants the government to cut this type of regulation, reports state.
Speaking at an event in central London on Monday, Starmer said the budget reflected his long-standing goal of reducing poverty, highlighting initiatives such as lifting the two-child benefit cap. He described the measures as “necessary” but “fair” and acknowledged that “tax rises do make life harder for people,” while emphasizing that further cuts to public services or increased borrowing had already been “tested to destruction.”
Starmer cited recent projections from the Office for Budget Responsibility, which noted lower productivity in recent years, as evidence that “austerity scarred the long-term productive capability of this country.”
On economic growth, he said the budget was aimed not only at easing the cost of living but also at providing “security” for citizens. “When it comes to economic growth, better living standards, we’re confident we can beat the forecasts. We’ve already beaten them this year. We are in control of our future. We’ve already struck trade deals. They’re attracting billions of pounds of investment," he stated.
Starmer outlined measures designed to remove obstacles for businesses across sectors, including planning, industrial policy, pension reform, artificial intelligence, and capital investment, noting that the budget includes initiatives to “keep the green light for the world’s best entrepreneurs.”
He argued that these reforms supported his view that the budget was “good for growth” and presented them as part of the UK’s ongoing economic renewal.
The prime minister also emphasized the importance of welfare reform and discussed Britain’s post-Brexit relationship with Europe, stating that “the Brexit trade deal has harmed the economy” and advocating for closer ties with the EU.
On regulatory matters, Starmer referenced a recent nuclear regulatory taskforce report that criticized “pointless gold plating, unnecessary red tape, well-intentioned but fundamentally misguided environmental regulations.” The report noted that Britain remains the most expensive country to build nuclear power plants, and Starmer said he wants the government to cut this type of regulation, reports state.
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