Healey to promise 'new age of industrialisation' for UK in conference speech
The chancellor will unveil policies aimed at boosting British shipbuilding in his speech to Labour's annual conference on Monday.
John Healey, the new chancellor of the UK, will promise a new era of industrialisation during his first Labour conference speech on Monday. He will assure delegates that while coal mines will not return, Labour will transform Britain's industrial legacy through advanced manufacturing support. Healey will also announce plans to bolster the UK's shipbuilding industry, including new orders for Royal Navy floating docks and a maritime research vessel.
The government's £15bn upgrade programme for Royal Navy shipyards is expected to be completed in the early 2030s.
Additionally, Healey will pledge £115m for a new marine research vessel, set to enter service in the early 2030s. These moves aim to bolster national security, resilience in growth-driven industries, and future capabilities for Britain. However, critics argue that these announcements lack clarity on funding sources and that Labour risks making tough choices needed to pay for defence expenditure.
Union representatives have welcomed these plans, with the GMB union seeing it as a significant boost for UK shipbuilding. However, they urge the government to take more action on living costs, such as unfreezing income tax thresholds and tackling energy bills. The Confederation of British Industry has noted declining economic activity across key sectors, and the upcoming Budget must address fiscal pressures and rising costs.
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