UK's Labour Party says it will invest for growth, as violence in Israel hangs over its conference
Britain’s main opposition Labour Party says it will focus on economic growth rather than higher taxes to “rebuild” the country after more than a decade of Conservative rule
LIVERPOOL, England — Britain’s main opposition Labour Party said Monday that it will focus on economic growth rather than higher taxes to “rebuild” the country after more than a decade of Conservative rule.
Labour economy spokeswoman Rachel Reeves told delegates at the party's annual conference that “Labour will tax fairly and spend wisely.”
“But I must tell you, you cannot tax and spend your way to economic growth,” she said. «The lifeblood of a growing economy is business investment.»
Reeves was making her pitch to British voters and businesses at the four-day conference in Liverpool, where Labour is trying to cement its front-runner status in opinion polls before an election due in 2024.
The party is running 15 or more points ahead of the governing Conservatives in multiple opinion polls, as Britain endures a sluggish economy and a cost-of-living crisis driven by the COVID-19 pandemic, the war in Ukraine and economic disruption following the U.K.’s exit from the European Union.
Labour is trying to show it can provide an alternative to Prime Minister Rishi Sunak's Conservatives, who have been in power since 2010. But the opposition party is wary of promising big public spending increases that would require tax hikes. The social democratic party also wants to convince corporate Britain that it is on the side of business.
For years, businesses were wary of the party, which has its roots in the trade union movement, and tended to favor the Conservatives. But recent economic and political upheavals have made many think again.
Reeves said a Labour
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