As Labour Party Conference – their first in Government for 15 years – draws to a close, it is clear that Keir Starmer’s party aimed to shift focus following a tricky few weeks in the media. The gloomy rhetoric was (to a large extent) placed in the rear-view mirror with a renewed focus. Not on major announcements, but on outlining a strategic roadmap for driving economic growth and ‘rebuilding’ the country, as Labour has framed it.
Angela Rayner: Building More Homes
Deputy Prime Minister Angela Rayner opened the conference with a strong focus on tackling the housing crisis. Key initiatives included the introduction of new laws on Renters’ Rights and the rollout of a “brownfield passport” to simplify the planning process for building on previously developed land. This move could unlock significant development opportunities. Rayner also highlighted Labour’s commitment to devolution, aiming to work with regional leaders to remove barriers to construction, which could stimulate the construction industry and create jobs.
Rachel Reeves: Economic Growth
Chancellor Rachel Reeves used her speech to emphasise once more that Labour’s top priority is economic growth. She reconfirmed that Labour will not raise corporation tax during its first term, a decision that should provide stability for businesses planning long-term investments. However, questions remain around Capital Gains Tax and other potential tax changes, with more detail likely to come in the Budget on 30 October.
Most noteworthy was Reeves’ announcement of a new industrial strategy, launching in October alongside Business Secretary Jonathan Reynolds, which is expected to provide a comprehensive framework for revitalising key sectors. For businesses, this could signal new opportunities for partnerships, innovation, and investment aligned with government priorities.
Ed Miliband: Warmer Homes
Ed Miliband announced Labour’s ambitious energy efficiency programme, which will mandate minimum standards for social housing and the private rented sector. This push towards more energy-efficient homes is expected to create significant demand for green technologies and skilled labour, benefiting businesses involved in construction, retrofitting, and renewable energy. By addressing both environmental and economic challenges, Labour is positioning itself to drive long-term sustainability in the housing sector while also reducing energy bills, and eradicating cold and draughty homes, for millions of people.
Keir Starmer: Homegrown Skills and Talent
Prime Minister Keir Starmer underscored Labour’s commitment to reducing the UK’s reliance on migration by investing in homegrown skills. For businesses, this signals an emphasis on workforce development and training, with potential government support for upskilling initiatives. Labour’s pledge to invest in local talent could help address labour shortages and skills gaps.
Starmer also confirmed that GB Energy, Labour’s publicly owned renewable energy company, will be headquartered in Aberdeen. This move reinforces Labour’s commitment to clean energy, and businesses involved in renewables should closely monitor upcoming developments.
Delivery, Delivery, Delivery
The central theme of this year’s conference was unmistakable: Labour is committed to delivering its manifesto, anchored by its national “missions”. There was a clear rebuttal of populist politics, which the Prime Minister described as the politics of “easy decisions.” While Labour’s slogan in Liverpool was “Change Begins,” it could just as easily have been “Change takes time – stick to the plan” (though perhaps not as catchy). With a focus on growth, housing, energy, and skills, Labour’s agenda has the potential to reshape the economic landscape for businesses in the coming weeks and months. All eyes will now turn to the Chancellor’s first Budget on 30 October. What we witnessed at the Liverpool conference is likely to have been the overture before the main event.
If you’d like to find out more about what was discussed at this year’s Labour Party Conference, get in contact with the team here.
