In her first speech as Treasury Secretary, Rachel Reeves announces measures to improve housing and the economy

The new UK Treasury Secretary, Rachel Reeves, presented this Monday (8 July 2024) the first guidelines to boost economic growth and tackle the country’s housing problem. Appointed by the newly sworn-in Prime Minister Keir Starmer (Labour, centre-left), she promised to lift the United Kingdom out of economic stagnation during her first speech.

Reeves stated that, despite the unfavorable indicators, he is working for a change in the country’s economic sector. “I have repeatedly warned that whoever wins the general election will inherit the worst set of circumstances since World War II.”, he declared.

Among her main proposals, she promised to build 1.5 million homes and invest in infrastructure projects nationwide. The UK is currently facing a wave of homelessness, which is increasing the number of people living on the streets.

Reeves said the new government is rushing through reforms.The new Labour Government has done more in 72 hours to reform the planning system than previous governments did in 14 years”, he stated on X (ex-Twitter).

With a previous career at the Bank of England, the minister has declared that economic growth is a national mission and a priority for the Labour Party. The first state budget is scheduled for the fourth quarter.


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