Britain’s Treasury chief says stimulating economic growth is the new Labour government’s mission

Associated Press

LONDON (AP) — Britain’s new Treasury chief says the Labour government will make stimulating economic growth its mission while limiting bureaucracy to allow for easier investments. Rachel Reeves said on Monday there’s no time to waste to reverse what she calls “14 years of chaos and economic instability” under Conservative governments. Reeves is Britain’s first female Treasury chief and a former Bank of England economist. She says she’s taking immediate action to deregulate planning rules to make it easier to build infrastructure, housing and energy projects. She also pledged to set a mandatory target of 1.5 million new homes in England over the next five years, and said she will remove an effective ban on onshore wind energy developments.