Economic Growth
House of Commons · Written Statements · 7 Sep 2026 · 1 speech · Official Report
The Government are committed to delivering good growth in every postcode of the United Kingdom. Today I am setting out more detail on how we will deliver on this promise-in order that people and places see the benefits of this growth as soon as possible. The UK has significant strengths and economic potential: life sciences, defence, technology, creative industries and financial services. However, global instability continues to present challenges. Conflicts and trade tensions have driven up inflation and interest rates, while borrowing and debt costs have increased. We have shown resilience in the face of these challenges: borrowing is falling; growth, although still fragile, was the fastest in the G7 in the first half of this year; and productivity is increasing. In the context of continued global uncertainty, we must not become complacent. Fiscal credibility is indivisible from growth, and is my first priority. The Prime Minister set out last week a clear diagnosis of what has gone wrong: political power was centralised, economic enablers have been privatised or outsourced, and the country deindustrialised. The Government will change this through a fundamental shift that starts with restoring power and resources to local leaders to build infrastructure, boost private investment and develop local industrial strategies. This will unlock the potential of their region to do the things they do best in a way that Whitehall simply cannot. Greater public control through a more...