As Tories push innovation...
Labour to use public contracts to boost economy
Rachel Reeves: ‘we will buy, make and sell more’
Labour is focusing its post-pandemic plans for the economy around using public contracts to stimulate demand and create jobs.
Shadow Chancellor Rachel Reeves has pledged to “buy, make and sell more” under a Labour government.
As part of the economic recovery, Labour says its plans would raise standards across the UK, award more public contracts to British businesses and bring the jobs of the future to the UK.
Ms Reeves’ pledge coincides with a commitment today by UK Business Secretary Kwasi Kwarteng to boost private sector investment by putting the UK at the front of the global innovation race.
In Scotland, the SNP’s new advisory council on economic transformation will meet for the first time as it considers a plan to develop a 10-year strategy.
Ms Reeves, who is in Scotland, said Labour will use public contracts to grow skills and raise standards, taking inspiration from approaches in other countries, including France and the US.
As well as raising standards nationally and globally, this move will help boost British business and create new jobs, she said, without providing any costings or numbers.
Ms Reeves will highlight how Labour’s new proposal will seize the opportunities for the long term of the post-pandemic, post-Brexit economy and “help to shape a more secure and resilient future for Britain, especially in the green and tech ideas of the future.”