I spoke to a range of media outlets including Sky News, BBC News, Times Radio, LBC and others regarding the stagnant growth we’ve seen in the economy and the Government’s failure to deliver a proper plan for growth over the last 13 years. The end of last year saw 0.0% growth and the IMF has warned that the UK faces the weakest growth of any G7 country. I highlighted Labour’s plan to grow the economy with our Green Prosperity Plan, reforms to business rates and our proposals to make the UK the best place to start and grow a business.
I also attended a series of engagements in my frontbench capacity as Shadow Economic Secretary to the Treasury. I am grateful to the Building Societies Association for organising a roundtable with building societies from across the country. We had a fantastic discussion about how to make Labour’s commitment to doubling the size of the co-operative and mutual sector a reality. I am also grateful to HSBC for inviting me for a tour of their trading floor in Canary Wharf. It was great to discuss how a future Labour Government would work with the banking sector to tackle fraud, boost the competitiveness of the City and support the green transition.
As Labour’s lead on financial services, I have made clear to the Government the need for them to balance the opportunities of digital finance with the need for caution. As the Independent reported this month, I welcome that the Bank of England is exploring a state-backed digital currency. However, the Tories must stop promoting cryptocurrency gimmicks which have put people’s savings at risk. Instead, we need a serious strategy to attract FinTech companies to the UK.