The Health Secretary said the cabinet was aware of the “pressure” on Chancellor Rachel Reeves amid volatile markets and a wider, difficult economic situation – but called on the public to “give up their time “.
Wes Streeting argued the public “underestimates” the “amount of heavy lifting” Ms Reeves has had to do and will have to continue to do, as he declared “total confidence” in her leadership in a fierce defense of its management of the crisis. economy.
Separately, International Development Minister Anneliese Dodds, who sits in the cabinet, told Sky News that Ms Reeves had been “very clear on the long-term plan for our country” and that she herself was “confident in this long-term plan.
The two chief ministers’ comments come after last week saw a fall in the pound and a rise in government borrowing costs, fueling speculation over further spending cuts or tax rises .
Streeting has “complete confidence in the chancellor’s leadership”
Speaking at the Jewish Labor movement’s annual conference in north London, the Health Secretary acknowledged fierce competition between all government departments to secure any available public funding from the Treasury, and told party members that all ministers “must make choices and compromises” where funding goes.
Mr Streeting went on to say that the chancellor and his deputy, Darren Jones, have “the most difficult job of all, because they have to make these choices for every government expenditure, and they have to think about what is in the best interest of our whole.” the economy and how to grow businesses.”
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He said: “I think people continue to underestimate both the amount of heavy work she had to do in her first six months and the amount of heavy work she will have to do in the next six months.
“And the firm doesn’t underestimate that – we understand the choices she has to make, the pressure she’s under.”
As a result, ministers “all have a responsibility” to “make tough choices and drive reforms and value for money” within their ministries, and also to be “engines of economic growth”.
“Nothing in the last six months has shaken my belief that economic growth is the number one priority,” he said.
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Continuing his defense of the Chancellor’s handling of the economy so far, Mr Streeting said she was “trying to move us out of what has been the status quo and economic orthodoxy for over a decade “.
“People need to give it time, and they need to remember that without (Sir Keir Starmer’s) leadership we certainly would not have won the last general election.
“Without Rachel’s leadership, we would not have won the last general election either. She built Labour’s economic credibility from the ashes they were left in after Corbyn’s leadership. And she built that trust, built that plan, and now she’s putting it into action.
He said he had “complete confidence in Rachel’s leadership and the leadership that the cabinet follows and drives with her, as we all need to ensure the economic growth of our country.”
Minister ‘confident in Chancellor’s long-term plan’
Speaking in a separate session at the conference, Ms Dodds spoke of “speculation” about the fiscal margin (the amount of money the chancellor will have at his disposal to spend), but said: “We must really focus on the evidence.
“And when we look at the facts, we see that the British government has a chancellor who is very clear on the long-term plan for our country. She kept her promises. »
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Ms Dodds, who also sits on the cabinet, highlighted a “new tax system”, the chancellor’s new Industrial Strategy Council, as well as “record levels of investment under the leadership of Rachel Reeves”.
“I think it’s really important for us to focus on those fundamentals, on what has been achieved in a very short period of time. And I have confidence in the long-term plan that Rachel has developed.
“Frankly, we can already see the benefits in terms of the UK’s reputation in terms of public finances, but more generally in economic management. That’s certainly what I’ve heard internationally and continue to hear right now.
Chancellor accused of ‘fleeing to China’
Chancellor Rachel Reeves with Chinese Vice Premier He Lifeng in Beijing. Photo: Reuters
The pair were speaking as the chancellor held meetings in China in a bid to attract investment for the UK economy, after ignoring calls to cancel the long-planned trip due to the economic crisis in the country.
Opposition parties accused the chancellor of “fleeing to China” rather than explaining how she would address Britain’s stagnant economy, and former Prime Minister Boris Johnson said Ms Reeves had “been scolded” and said she should “head to HR and get her P45 back – or stay in China”.
Speaking during her trip, Ms Reeves said she would not change her economic plans, with October’s budget aimed at returning the UK to economic stability, and reiterated that “growth is the mission number one in this government.”
She said “measures” would be taken to comply with budgetary rules. The action would include deeper spending cuts than the 5% efficiency savings already announced later this year, while cuts to the welfare bill would also be under consideration.