Rachel Reeves announces plans to build millions of homes

Rachel Reeves vows to make tough decisions for growth

Rachel Reeves, the Chancellor, has declared that she will not shy away from making tough decisions to boost growth. In her first major speech in the job, she unveiled plans to build 1.5 million new homes over the next five years, relax planning restrictions on building in parts of the green belt, and bring back mandatory housebuilding targets.

Reforms and national mission for growth

Reeves announced an immediate end to the ban on new onshore wind developments in England and set out a national mission to deliver growth. She acknowledged potential opposition to the reforms but emphasized the government's commitment to getting Britain building again.

Focus on economic plans and infrastructure

Labour's economic plans include the development of a new national wealth fund for private and public investment, as well as a 10-year infrastructure strategy. Reeves assured investors that Britain is a place to do business and indicated upcoming steps based on a report from a task force led by Mark Carney.

Government's budget date to be announced

Reeves revealed that the date for the Government's first budget will be announced before the Commons' summer recess. The administration's focus on economic growth aims to fund public services through increased tax revenue.

Labour's stance on housing targets

Labour's manifesto promises to rewrite the National Policy Planning Framework to restore mandatory housing targets and undo previous Conservative changes. While local communities will continue to shape house building, Labour is willing to intervene to ensure the necessary construction of homes.