Labour will become the party of wealth creation and make growth its top priority, Sir Keir Starmer will vow today.
The Labour leader will unveil his party’s election manifesto making economic stability the first of its six ‘first steps’ for government and has pledged there will be no ‘tax surprises’.
Sir Keir is expected to say: ‘Wealth creation is our number one priority. Growth is our core business – the end and the means of national renewal.’The mandate we seek at this election is for economic growth. This changed Labour Party has a plan for growth. We are pro-business and pro-worker, the party of wealth creation.’
Sir Keir will launch the manifesto in Manchester today. It is expected to include a pledge to cap corporation tax at its current rate of 25 per cent to give businesses long-term certainty, the latest in a series of pledges not to raise tax.
Labour has already ruled out raising rates of income tax, national insurance or VAT, and said the manifesto will contain no tax rises that have not already been announced.
Those increases are charging VAT on private school fees, abolishing the non-dom tax status and closing ‘loopholes’ in the windfall tax on oil and gas firms.
The party’s first steps also include a pledge to cut NHS waiting lists with 40,000 new appointments a week, setting up a Border Security Command, establishing GB Energy, cracking down on antisocial behaviour and hiring 6,500 teachers. The manifesto is expected to commit to reforming planning rules and building 1.5million new homes.
There will be measures to overhaul workers’ rights and a pledge to devolve decision-making away from Westminster.
On foreign policy, Labour has said it will back Ukraine against Russia and support recognising a Palestinian state as part of a Middle East peace process.
The party has also promised that it will aim to spend 2.5 per cent of GDP on defence.