Labour's Chancellor tells Mail on Sunday readers that Sir Keir Starmer's Government will introduce reforms 'to unlock growth, boost investment and deliver for pensioners'.
Rachel Reeves today echoes Margaret Thatcher with a pledge to help stimulate a 'big bang' in growth by boosting the nation's pension pots.
The reference is a conscious allusion to Nigel Lawson, Lady Thatcher's totemic chancellor, whose radical economic policies led to the Big Bang in British financial markets. She echoes Margaret Thatcher with a pledge to help stimulate a 'big bang' in growth by boosting the nation's pension pots Read More Labour accused of 'talking the economy down' amid fears it's planning punishing tax raids She says she has ordered an urgent Treasury review of the pensions market, focused on directing more pension schemes to invest British firms; laws to boost defined contribution pension pots by more than £11,000 by improving their management; and the consolidation of savers' multiple pension pots into one super-pot to maximise returns.
A table showing the economic picture at the end of the last Goverment in 2010 compared to the start of Keir Starmer's Government in 2024 Read More Rachel Reeves urged to consider inheritance tax raid on pensions which could raise up to £2bn a year The Chancellor, who will deliver her first Budget in the autumn, will reportedly have to find an extra £10billion to cover a 5.5 per cent rise for millions of public sector workers that has been recommended by independent pay review bodies.
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