Prime Minister Sir Keir Starmer is set to reassure the nation that there is “light at the end of this tunnel,” urging the public to endure short-term financial hardships in exchange for long-term prosperity.
In his initial address to the Labour conference since assuming office, he will underscore the necessity for stringent economic choices to tackle the “black hole” in public finances left by the Conservatives. He will state that there are no impending tax cuts until these problems are addressed.
Starmer plans to promise future stability for the economy, projecting this will yield concrete benefits in the next five years, such as increased growth, shorter NHS waiting lists, enhanced border security, and a more eco-friendly energy system. This optimistic outlook is designed to counter criticism, including from his own Cabinet, arguing that his messaging has been overly negative since he took office as Prime Minister.
‘Short-term pain for long-term gain’
Starmer’s speech comes as the government faces backlash over the removal of winter fuel payments for 10 million pensioners, a move that prompted boos at the Labour conference. He will acknowledge the difficulty of the current situation but argue that the sacrifices made today will ultimately lead to a more secure and prosperous future for the country.
“National renewal politics are a collective effort,” Starmer is anticipated to say. “While it may be challenging in the short run, it’s the best course of action for our nation in the long run. By making difficult long-term decisions now – promoting higher economic growth, shortening hospital waiting lists, ensuring safer streets, fortifying our borders, and utilizing clean British energy – we can more swiftly reach the light at the end of this tunnel.”
His speech is likely to set the stage for the Labour government’s first budget on October 30, where tax increases and spending cuts are expected, echoing earlier warnings from Chancellor Rachel Reeves. While Labour has ruled out raising income tax, National Insurance, VAT, or Corporation Tax, other areas such as Capital Gains Tax and inheritance tax may see adjustments.
Tackling the ‘financial black hole’
Starmer will emphasize the £22 billion fiscal deficit left by the previous government, cautioning that financial caution is crucial to avoid further harm to the economy. “It’s not only the financial void left by the Tories,” he will state, “but also our ravaged public services. Our desire for low taxes and quality public services doesn’t mean we can overlook the necessity of adequately funding policies.”
It is anticipated that the Prime Minister will defend Labour’s economic plan in his remarks, portraying it as the only sensible way forward after years of what he calls Conservative economic mismanagement. This follows as Starmer grapples with falling popularity and voter disillusionment, with critics claiming he is overly preoccupied with the previous government’s errors rather than providing optimism for the future.
Starmer promises ‘light at the end of the tunnel’ despite looming tax rises (bmmagazine.co.uk)
