Today (08.07. 24) will expose the government’s plans, the new Finance Minister, Rachel Reeves to stimulate private investment in its first important speech, as the party tries to harness the dynamics of its sweeping victory in last week in an effort for economic growth. There is no “time to lose” to raise Britain’s growth rate (after the election), Reeves will tell an audience of entrepreneurs in central London, committing to “correct the foundations” of the British economy, according to the observations sent in advance by the Treasury. The core of Reeves’ plan is to raise billions of pounds of private investment by creating new financial instruments to stimulate demand from institutional investors, Bloomberg first said before the election. For months, Reeves has been working to center investors’ interest in projects that are central to Labour’s development plans, in areas such as green energy, housing building and infrastructure. According to the Ministry of Finance announcement, Reeves will give more details of these plans in her speech today. “Where governments were not willing to make the difficult decisions to achieve growth – or waited too long to act – I will take action,” Reeves is going to say. “It is now a national mission”. Strengthening the size of Britain’s economy is a crucial objective for new Prime Minister Keir Starmer, who said stimulating growth would mean that his government would not have to raise taxes or cut public spending to balance the country’s finances. Of course, economists doubt that Labour will be able to increase growth quickly enough to avoid making difficult decisions about taxation and spending in their first budget in the autumn, where they are expected to face a budget hole of £20 billion ($26 billion). As part of Labour’s effort to attract private funds, former Bank of England Governor Mark Carney leads a working group advising Reeves about creating a national wealth fund. Carney’s working group, in which Aviva CEO Amanda Blanc (Amanda Blanc) and Barclays CEO CS Venkatakrishnan participate, will submit her findings Tuesday, according to a person who knows the subject. Carney is chairman of Bloomberg Inc. The great emphasis placed by Reeves and Starmer on the use of private funds refers to the last Labour government in the late 1990s and early 2000s, when under Tony Blair and Gordon Brown private funding initiatives and public-private partnerships were extended. These so-called PFI projects were considered particularly controversial due to questions about the value of their money, the quality of private projects and the arrangements used to keep debt away from the government balance sheet. Labour have also stated that they will hold a global investment summit during the first 100 days of their tenure and have held meetings with what they call the British Infrastructure Council to discuss with British and international investment companies how to unlock private funds. These meetings included representatives of BlackRock, Lloyds Banking Group, Santander, HSBC, Phoenix Group and Fidelity International. “It is absolutely right that we want investors to come along with this state money,” Starmer said in the last television debate before the 4th of July election. “We have been talking to global investors for almost two years, saying that if we put this money set in our manifesto, if you come with them and put in many more billion pounds, so that in cooperation with the government we can make the changes we need.” Reeves’ major economic step follows a busy weekend of activities for the new Starmer government, which has tried to broadcast a sense of urgency and action since winning the 4 July vote.