In a speech this morning, John McDonnell will lay out the main priorities for the first hundred days of a Labour government, which will include:
• Labour’s first Budget to end austerity in social security and public services.
• Getting investment flowing to communities neglected for decades, as part of Labour’s Green Industrial Revolution.
• Beginning the process of bringing key utilities into public ownership under democratic management.
McDonnell will say that the first priority for the Treasury under Labour will be ending the Conservatives’ programme of cuts to public spending and social security. More details of Labour’s first Budget will be laid out in the speech tomorrow.
On the second priority, McDonnell will speak about the urgency of getting money moving out of Whitehall and the City by setting up the new institutions to make that happen. Labour’s National Transformation Unit will be established before Christmas and will kick start the new National Investment Bank, regional development banks and Post Bank. As part of Labour’s Green Industrial Revolution these new institutions will deliver finance from the City to the high street, investing in communities ignored and held down for decades.
Labour will also get Brexit sorted by kicking off negotiations for a good deal for working people, and simultaneous plans for a public vote to give the people the final say.
Good jobs and whole industries that were once the pride of our country have been lost and replaced with dreary, exploitative, insecure and low paid jobs. Or in some cases no jobs at all.
As our manifesto makes clear, turning these two things around will be our number one priority in government.
Our Green Industrial Revolution will deliver the changes we need to avert climate catastrophe. And it will put British industry back on the map, bringing prosperity to every part of our country.
It’s time for real change, it’s time for a Labour government.