General election: Rachel Reeves sets out Labour’s plan for businesses in first major campaign speech

The shadow chancellor claims the last Conservative government has caused “economic chaos and decline”.

She adds the Tories have caused economic mismanagement with Liz Truss’mini-budget, and that it is an “insulting the intelligence of Brits”.

“We won’t let them get away with it,” she vows.

The shadow chancellor is delivering her major election speech from a Rolls Royce HQ in the East Midlands.

Ms Reeves vows to foster a partnership with home grown and small enterprises if Labour is elected.

She says today’s “changed Labour party” is the the party of businesses.

The party president is delivering a speech at a Reform UK event.

Attacking party leaders, the right-wing politician says: “I don’t know about you, but I feel like this election campaign has got off to the dullest start I can ever remember in my entire life.

“Two men with the appearance and enthusiasm of middle managers vying to become our national leader. Indeed I do my best to listen to Keir Starmer when he’s being interviewed or giving a speech and I find myself zoning out halfway through. There’s no energy, there’s no enthusiasm, there’s no real substantive policy.

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“As for the Prime Minister, I have to laugh, the word ‘bold’ is the word they keep using. But actually when asked a question by somebody, he looks more like a frightened rabbit than someone who is bold,”

In a letter published in the Times, 121 chief executives from various fields said Labour has changed and  “wants to work with business” on long term growth.

The list includes TV chef and restaurateur Tom Kerridge, former Heathrow Airport chief executive John Holland-Kaye, JD Sports chairman Andrew Higginson and Wikipedia founder Jimmy Wales.

Mr Wales said this morning he is convinced by Labour’s approach and said, with Rachel Reeves leading the Treasury, the UK “will be run in a much more sensible way.”

The Wikipedia boss told the BBC’s Today programme: “We’re not talking about an extreme left wing government by any means, we’re talking about a sensible, solid centrist government.”

Labour has unveiled a new mission to “protect UK economy” if elected. Under “strong, stable and secure foundations” the party manifesto promises the following:

• Implement tough fiscal rules to tackle economic stability.

• Introduce a new fiscal lock for economic security to avoid “a repeat of the devastation of Liz Truss”.

• Set up a new Office for Value for Money to manage taxpayers’ money.

• Halve government consultancy spending by bringing spending controls.

• Appoint a Covid Corruption Commissioner.

• End VIP ‘fast lane’ procurement processes.

Speaking on BBC Today programme, shadow business secretary Jonathan Reynolds has described himself as a Christian socialist.

He said: “I would describe myself as a Christian socialist in the best traditions of that [term]because that’s about putting people first and to do that, you’ve got to have a set of policies that will deliver for people.

“I think it’s the best tradition of the things that have been delivered in the UK, whether it’s the national parks or the NHS, have come from people with a similar background to mine.”

David Cameron has taken to social media to stress a transparent investigation into the Rafah massacre.

The Institute for Fiscal Studies director Paul Johnson said Rishi Sunak’s proposed tax break for pensioners is “simply a reversal of a tax increase that the Conservatives proposed”.

Speaking to BBC Radio, he said pensioners had a bigger personal allowance than people of working age until the Tories got rid of it.

He adds: “So this is one of many examples actually of tax policy that has been reversed by the same Government. George Osborne got rid of it in the 2010s when the personal allowance of people under pension age continued to rise.”

Asked if it makes fiscal sense, he replied: “The overall cost is about two and a half billion a year by the end of the Parliament, that’s not a very big number, but of course, these promises are beginning to add up.”