Rachel Reeves: does she have a plan?
Pundits have critiqued her statements as alternately too conservative and too extreme
![Rachel Reeves standing at a podium](https://cdn.statically.io/img/cdn.mos.cms.futurecdn.net/NUjMn3q4P8iStt4gdDdXmZ-415-80.jpg)
"It is now fashionable to appreciate Labour's shadow chancellor, Rachel Reeves, for all the wondrous things she is not," said Matthew Parris in The Times. "She's not mad, not stupid, not lazy. She's not nasty, not on the loony Left."
Even so, one might expect the person who will likely be running our economy within months to offer a clear outline of her policies. And the prestigious Mais lecture in the City of London, which she gave last week, would have been a good time to do so. But in the event, the lights dimmed, the drums rolled and the curtain rose "to reveal... nothing": a "shapeless wordfest" that left her audience "none the wiser".
Lack of big ideas is actually 'exciting'
The speech offered an "admirably fluent" analysis of Britain's economic woes, said The Guardian. She argued, cautiously, for a bigger, activist state. But it wasn't enough. The nation needs a plan: a "radical agenda" to deal with the crises of economic stagnation and global warming. Reeves "shrank from the scale of the challenge".
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.statically.io/img/cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Britain doesn't need a plan, said Emma Duncan in The Times – "if what is meant by 'plan' is some sweeping, radical idea about how to revolutionise the structure of our economy". Jeremy Corbyn had one of those. So did Liz Truss, "and the financial markets gave it the big thumbs down". We don't need radical change, because "the fundamentals of our economy are pretty decent". We have a well-educated population, good economic governance and a "top-notch" service sector. But infrastructure is "threadbare" and growth has been slow, so the economy needs tweaking.
That's what Reeves offered: she wants to spend more on infrastructure, and to liberalise the planning system, allowing homes and commercial buildings to be built more easily. I found her lack of big ideas "exciting": what the British economy needs most is "not to be buggered about", as it has been by the Tories, during "austerity, Brexit and eight years of political instability".
Labour envisages a 'dominating, interventionist state'
Reeves was once dubbed "boring, snoring" by the then editor of Newsnight, said Harry Phibbs on CapX. But her dullness, these days, is not accidental: it's part of Labour's strategy of offering reassurance, and moderate-seeming policies, to disillusioned Tory voters.
Don't be fooled, said Kate Andrews in The Daily Telegraph. Labour envisages a "dominating, interventionist state". It would ban zero-hours contracts. Under Reeves, the Treasury would have an "industrial strategy" for the first time in decades: the state will once again be trying to "pick winners". At a time of historically high taxes and stagnation, this is a worrying prospect.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Canada is facing an uphill battle against car theft
Under the Radar More than 200 stolen vehicles from Canada are detected every week
By Justin Klawans, The Week US Published
-
7 snowy places around the world to escape a hot American summer
The Week Recommends It's a winter wonderland in the Southern Hemisphere
By Catherine Garcia, The Week US Published
-
When is pet insurance worth it?
The Explainer Decide if it makes more sense to brace for big vet bills or pay a regular premium
By Becca Stanek, The Week US Published
-
Iran: does Masoud Pezeshkian's election mark a turning point?
Talking Point New president is seen as a progressive but much will depend on how the US reacts
By The Week UK Published
-
King's Speech: is Keir Starmer being too cautious?
Today's Big Question The Labour Party set out its plans for its first year in government
By Richard Windsor, The Week UK Published
-
How could J.D. Vance impact the special relationship?
Today's Big Question Trump's hawkish pick for VP said UK is the first 'truly Islamist country' with a nuclear weapon
By Harriet Marsden, The Week UK Published
-
See No Stumbles
Opinion How so much of the press badly flubbed its coverage of Biden's deterioration
By Mark Gimein Published
-
The Trump immunity ruling: a licence to break the law?
Talking Point 'End of democracy' fears may be overblown, but the Supreme Court verdict is already having a noxious impact
By The Week UK Published
-
Labour's first week in power
In the Spotlight The NHS, prisons and housing are at the top of a to-do list which risks crashing into 'wall of economic reality'
By The Week UK Published
-
No political victory lasts
Opinion Why the party that loses in November will rise again
By William Falk Published
-
How conservative is Labour?
Today's big question Keir Starmer's party triumphed in the general election despite prioritising 'wealth creation and growth, not redistribution'
By Abby Wilson Published