‘The public were promised a plan to invest in every corner of the country and to boost living standards for working people, but instead were palmed off with empty slogans and broken promises’, the Chancellor writes
The British people were sold a ‘levelling up’ lie.
They were promised a plan to invest in every corner of the country and to boost living standards for working people. But instead of real change they were palmed off with empty slogans and broken promises.
Since stepping through the door of No11 Downing Street I’ve seen the damage this has done – high streets hollowed out, businesses tangled in needless red tape, communities starved of investment and hard working-people deprived of good jobs, and decent public services.
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But I’ve also seen a country that’s home to the brightest talent and most innovative businesses that are ready to seize opportunities, create more jobs and grow.
That’s why this Government is making good on our promise to deliver economic growth, raise living standards and deliver national renewal in every part of Britain.
We’re investing in communities across the country that need it most, not just places that have traditionally received all the attention.
From Bristol to Bury and Doncaster to Dundee, we are backing British towns and cities, backing the world-class talent, brilliant scientists and innovative businesses to fire up the next wave of national growth.
At this week’s Regional Investment Summit we secured over £10 billion that will flow directly into every region, announced over half a billion pounds for new homes and infrastructure in the Oxford-Cambridge Growth Corridor and are making the biggest ever investment in city region transport.
Thanks to investments by the first National Wealth Fund, over 64,000 good jobs will be created or supported across our nations and regions. And we’re making the biggest ever transfer of power and resource from Whitehall to local leaders to ensure all parts of the UK feel the benefits of growth.
So, wherever you are, this Government will back your community with investment, jobs and growth, because unlike previous governments, we believe every village, town and city has potential.
That’s how we build a stronger economy – one that rewards hard work and delivers for everyone. And we’re already seeing the results.
Inflation has stabilised this month from it’s dizzying 11% high, retail sales are at their highest level in the last 3 years and the average person’s disposable income is now £800 a year higher than just before the election.
I know that there is further to go until we have delivered growth that is felt in people’s purses and pockets in every part of Britain.
But the prize is clear. Good jobs for our children, high streets regenerated, and national renewal.
That is the power of investment. That is the power of regional growth. That is the purpose of this government.