Chancellor John Healey has committed to adhering to the government's fiscal rules in next month's budget, stating there is "nothing progressive" about losing control of public finances. Speaking at the Labour conference, Mr Healey acknowledged a challenging global economic environment.
Among the measures outlined to support jobs and growth, the Chancellor announced a new local apprenticeship service. This initiative, to be led by mayors, will target young people with the aim of delivering "thousands more apprenticeships" nationwide.
Mr Healey also indicated that Labour is preparing for welfare reform, citing a sharp rise in youth unemployment. He stated that it "falls to us to act" to overhaul the benefits system, arguing it is "simply not progressive to allow a bigger and bigger benefits bill."
The Chancellor insisted on balancing the books while developing Andy Burnham's plans for growth, stating he and the Prime Minister are in "lockstep" on this commitment. He also announced £6bn of contracts for British shipyards, aiming to usher in a "new age of industrialisation."