Three months ago, the British people voted for change. For a Britain that works for working people again, with an economy that is growing, an NHS that is fixed and more money in people’s pockets.
I am determined to deliver that change. But I know it can only happen if we bring investment back to Britain. Investment that can reignite Britain’s industrial heartlands to create good jobs in the industries of the future – like wind power and solar. And this includes carbon capture and storage. That’s why today we have announced up to £21.7bn of funding over 25 years to launch this major new industry for our country in a new era for clean-energy investment and jobs.
This gamechanging technology will bring 4,000 good jobs and billions of private investment into Teesside and Merseyside – and support 50,000 jobs in the long term, while powering up the rest of the country. Not only does this represent a major success story for British industry, it also means jobs in the supply chain, such as pipe welders, mechanical engineers, site managers and surveyors.
And it means these opportunities are spread across the UK. In the past, whole industries were allowed to decline or disappear. Whole communities were thrown on the scrapheap with no alternative employment on offer. Instead, there was a narrow focus on a few cities and a few successful industries. That’s no way to manage an economy. That’s why this government is doing things differently. That’s the change we are offering.
We are working hand in hand with business to invest in the industries that are crucial to Britain’s future success – like clean energy and much more beyond. We have launched Great British Energy, a new public energy company that invests in the clean energy sources of today and tomorrow. Our new national wealth fund will unlock private investment across our economy. And we are removing the barriers that stop investment so we can get Britain building again.
But this is only the start. In just under two weeks’ time, the world’s most important companies and investors will arrive in Britain for our first international investment summit. It will be about our plan for our industries. It will be about how we are bringing stability back to the economy. And it will be about celebrating our country’s economic strengths.
A brilliant education system. A legal system that sets global standards. Huge talent in engineering, science and technology. And it will be about securing new investment.
The reason it matters so much is simple: jobs. In every industry that we are building, or rebuilding, it is the jobs that matter. Decent jobs, in every part of the country. Jobs that pay well, putting more money in the pockets of working people. Jobs that mean a young person who wants to get on in life no longer has to get out of their home town. Jobs that make you and your family better off.
That’s what drives this government to do things differently. That’s the change we are offering. And that is the change we are determined to deliver.
Rachel Reeves is chancellor of the exchequer
Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here.
