In a major speech on the economy, Liberal Democrat Leader will warn Andy not to lurch to the left but
instead to focus on growth through a bold new deal on Europe
including joining the single market.
Addressing the British Chambers of Commerce Global Annual
Conference, will argue that failing to grow the economy is the
original sin of Keir Starmer's government and the previous
Conservative government underpinning the cost-of-living crisis,
the chaos over defence spending, and the rising welfare bill.
The Liberal Democrat Leader will set out his party's plan to get
the economy growing through a new Growth and Defence Partnership
with Europe, including a customs union and membership of the
single market. He will argue that without growth, the government
will never escape the trap of high borrowing costs, high debt
interest payments, and no room for manoeuver.
is expected to say:
[check against delivery]
On Labour and the Conservatives' economic
failure:
It is its failure on growth that drives so much of people's anger
and frustration towards the Labour government. Just as it was
their failure on growth that drove so much anger and frustration
towards the Conservatives before them.
Whether it's the cost-of-living crisis that is causing so much
pain to families across the country or the inability to find
money for defence at a time when national security is so
critical, the rising welfare bill or the scandal of one million
young people not in work, education or training, the crisis
underpinning them all is anaemic economic growth.
The original sin of this government, and the last government, is
its failure on growth.
On :
And if the next Prime Minister is going to solve those other
problems, they must start by getting the economy growing again
and fast.
It would be a terrible mistake for the new Prime Minister to
think that the problem with Keir Starmer's government is that it
wasn't left-wing enough. Don't lurch to the left. That's a
mistake the country can't afford.
On the bond markets and government borrowing
costs:
Without growth, the government will never escape the trap of high
borrowing costs, high debt interest payments, and no room for
manoeuver.
Whoever the next Chancellor is will have to face up to the
reality that we spend £110 billion every year, just paying the
interest on our national debt. That's £1 of every £12 the
government raises in revenue, gone.
And the only way to bring down those high borrowing costs is to
reassure investors and the markets that Britain has a real plan
to grow our economy and get the public finances under control. A
plan that both the Conservatives and Labour have disastrously
failed to deliver.
On a Growth and Defence Partnership with the EU:
Our party's plan for a new Growth and Defence Partnership with
the EU would make Britain richer, safer, and stronger, with a new
Customs Union, and also crucially taking Britain back into the
Single Market.
Tearing down the barriers to trade. Ending the mountains of
paperwork. Cutting costs for businesses. Giving our young people
the chance to study and work, live and love anywhere in the EU.
Undoing the damage of the Johnson-Farage Brexit deal that has
held our economy back for so long. Giving British businesses the
certainty they need to invest, to hire, and to grow.
And giving Britain's public finances a growth dividend a new fund
worth tens of billions of pounds, to rebuild the public finances,
cut the cost of living, cut the cost of business, fix the NHS and
strengthen our Armed Forces.
