British Prime Minister Keir Starmer said on Monday that the country’s economy is “in a bad state” and that his new government will take the necessary decisions to improve the situation.
“The economy is in bad shape, I think the whole country knows that,” added Starmer, who led his party to a landslide election victory last week.
“That’s why there is a strong mandate for the next Labour government to bring about change,” he continued. “What we have to do now is go ahead and bring about that change.”
Finance Minister Rachel Reeves said earlier that the government had begun the task of launching infrastructure projects and private investment as part of a new “national mission” to boost economic growth.
The Labour Party will have a difficult task in dealing with the economic situation that requires urgent solutions, although Starmer said earlier that these problems will be solved by building “brick by brick”, as there is no magic and urgent solution to all these problems.
What are the most important urgent economic issues facing the Labor government?
According to Starmer, his priority is:
- Restore stability to the economy.
- Restoring confidence in the British economy.
- A tax reform will be announced in October with the announcement of the first budget of the new party era.
- Increase public spending, especially in the field of infrastructure.
- Controlling the size of borrowing and public debt.
- Maintaining the inflation rate at around 2.2% after reaching its highest level since World War II during the past two years.
