Rachel Reeves, the shadow chancellor, made economic growth the centrepiece of her Mais lecture this week, mentioning the word 58 times. However, critics note that her promises to reform planning, boost investment and improve skills lack the necessary detail to convince.
Reeves acknowledged the limitations of GDP as a measure of prosperity, citing the need for growth that is broadly shared and environmentally sustainable. She insisted that rapid, inclusive growth is compatible with net-zero commitments, a stance that distinguishes Labour from those who question growth's environmental cost.
The approach comes as Britain's growth has languished since the 2008 financial crisis. Labour's large opinion poll lead suggests voters are ready for change, but Reeves offered few specifics on how she would deliver higher growth, beyond deferring to the Bank of England and the Office for Budget Responsibility.
Reeves ruled out 'running the economy hot' or replicating US-style subsidies, committing to fiscal discipline instead. With a general election expected within months, the shadow chancellor is staking Labour's credibility on a growth strategy that remains more a slogan than a blueprint.
