Properly titled The Rt Hon Rachel Reeves MP has been appointed as the new Chancellor of the Exchqeuer. She represents the constieientcy of Leeds West and Pudsey. She has the honour of being the first female chancellor of the exchquer.
Economic Growth
In an announcement made by the chancellor she has concluded that according to the OECD, the econoic value of the country in the duration of the Tory Party rule short relative to the average rate of growth. A staggering £143.3 billion. This equates to an estimated £58 billion in tax during the period in question.
Actions
The chancellor has decided to take action to ensure the future of the economy is built on solid fiscal foundations. To that effect the plans include:
- Build 1.5 million homes over the next five years.
- Onshore Wind Farms
Working closely with local goverment, the plans are to contact local mayors which should help unlock funding and investment opportunities to grow schemes.
Critical Major Infrastructure
It has been discussed about how broken the UK is when it gets to critical infrastructure. With planning permission for things that would otherwise be considered a local goverment problem such as a bridge over a road being required to pass through the national critical infrastructure planning commities. This naturally can not be good for growth or getting any national infrastructure complete on a timely manner.
The intention is that these plans will b e updated at least every five years, and the plans of the current goverment should be expected to be announced within the next months.
So it sounds like some impressive bold moves are being made by the new goverment sprining straight into actions. With time we will determine how effective they have been in that process.
Acknowledgements
Assets Provided by the Crown/Gov.uk platform.
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