Why we need a Fair Deal for the Economy

Economic growth has been weak for years and the Conservative Government has hurt the public finances through reckless mismanagement, culminating with their mini-budget last year.

Millions are struggling to make ends meet in a cost-of-living crisis, while oil and gas firms make record profits.

The public deserves better - our Fair Deal will support families and foster sustainable economic growth.

A fairer economy

We believe in an inclusive economy, one that offers opportunities for all while ensuring fairness and accountability.

Our Fair Deal will:

✅ Help people with living costs and energy bills by implementing a proper one-off windfall tax on the super-profits of oil and gas companies.

✅ Promote fair taxation by reversing the Conservatives’ unfair tax cuts for big banks

✅ Strengthen tax enforcement, reduce the tax gap, and equip HMRC to combat tax fraud effectively, saving taxpayers billions.

The economy must work for everyone.

A stronger economy

We need sustainable, long-term growth through wise investments and the responsible management of public finances.

That’s why we would:

✅ Invest in infrastructure, innovation, and skills nationwide to create jobs, prosperity, and tackle climate change.

✅ Secure economic health while controlling spending - day-to-day spending will not exceed money raised from taxes in the medium term, with flexibility during economic crises.

✅ Uphold fiscal responsibility by requiring OBR forecasts for all fiscal decisions.

Supporting businesses and jobs

To grow the economy, we need a strong partnership with businesses. When we work with business, it creates opportunities for investment, growth and employment, which benefits us all.

Our Fair Deal will:

✅ Reform business rates to support our high streets, boost British manufacturers and close the gap with online tech giants, while creating good local jobs.

✅ Develop an industrial strategy that encourages businesses to invest in clean technologies, building a green economy.

✅ Introduce a duty of care for the environment and human rights in business operations and supply chains.

✅ Reduce trade barriers and strengthen relationships with trading partners - we will fix the broken relationship with Europe and ensure Parliament is consulted on, and signs off on, negotiating mandates and trade agreements.

✅ Address labour shortages that are another outcome of the Conservatives’ botched deal with Europe by boosting skills and apprenticeships, and agreeing reciprocal fast-tracked work visas in key economic sectors.

✅ Support science, research and innovation, especially among small businesses and startups, in areas like zero-carbon, environmental, and medical technologies.

✅ Combat the productivity crisis through incentives for businesses to invest in training, digital technologies, and energy efficiency.

We are committed to helping everyone reach their full potential - that’s why we’ll support people throughout their careers and why jobs must adapt to their workers’ lifestyles, rather than the reverse.

We will:

✅ Boost productivity and encourage people to enter the job market by making flexible working open to all, unless a significant business reason makes it unworkable.

✅ Address skills and recruitment challenges by investing in education, increasing apprenticeships, and providing career guidance for young people.