The Guardian view on Britain’s new chancellor: his purpose must be to protect living standards | Editorial

John Healey, the new Chancellor of the United Kingdom, presented his vision for the country in his first speech to the Labour party conference. He aimed to balance prudence with a purpose, emphasizing fiscal credibility as the foundation for his goals. The Chancellor's speech resonated with the spirit of his predecessor, Gordon Brown, as he highlighted the importance of apprenticeships for young people, funding for unions to reskill workers, and investment in defence to create manufacturing jobs.

Healey cleverly incorporated historical elements, such as miners, shipyards, and submarines, to signify a reindustrialization process with a recognizable Labour history. He also addressed future challenges by suggesting that British workers should leverage artificial intelligence rather than being outpaced by it. His message was clear: the "politics of hope" would be earned through "fiscal discipline, good work, and strong industries."

However, the Chancellor's speech lacked a comprehensive plan for care work, public services, and the energy transition. While Healey outlined two main stories - the supply of properly trained workers and the revitalization of industry - he failed to provide a clear explanation of how enough good jobs would be created across the broader economy. Labeling a defense contract as "industrial renewal" does not necessarily prove its effectiveness as the best use of state capacity.