Chancellor John Healey addressed the Labour party conference, delivering a speech that highlighted the significant economic challenges facing the UK. Despite the conference's overarching theme of "Hope Again," Mr Healey's address focused on the need for fiscal discipline.
Mr Healey's speech indicated that the budget, due in four weeks, is likely to include tax rises and welfare cuts. He also reiterated a commitment to spend £6m on shipyards for building nuclear submarines and announced the reintroduction of the £15m Union Learning Fund.
The Chancellor acknowledged the tough economic climate, stating that things are difficult and likely to become more so. He noted that measures like energy price caps and £2 bus fares are unlikely to significantly impact the rising cost of living.