‘Crunch time’ for Reeves as she reboots growth agenda

Rachel Reeves has been warned by business leaders that it is crunch time” for her promises to deliver growth as she attempts to win back her credibility on the economy.

- DAVID MADDOX

In her first major speech since the Budget in October, the chancellor is hoping to signal how she can deliver the economic growth she promised during the election.

It comes after a barage of criticism over her policies in the first seven months of government and speculation that Britain is on the brink of a recession.

With business confidence rock bottom and chief executives privately claiming they were lied to at the election, Ms Reeves and prime minister Sir Keir Starmer met many of the leaders of Britain’s biggest companies yesterday morning to heal relations.

Building on what was described as a successful business summit, Ms Reeves will today vow to go “further and faster” to kickstart the economy.

Among the major projects she will unveil will be plans to deliver the Oxford-Cambridge Growth Corridor that will boost the UK economy by up to £78bn by 2035, according to industry experts.

An announcement on the expansion of Heathrow is also expected despite the threat of a backlash by Labour MPs, while the chancellor will also back a major plan to redevelop the iconic Old Trafford home of Manchester United.

But there is already confusion over how the policies will be delivered in government with Sir Keir telling businesses yesterday morning that anti-growth policies will be ditched.

However, later Downing Street clarified that growth will be one of the factors “hardwired” into considering policies.