Britain's New Labour Government Embarks on Economic Revival Mission

Britain's finance minister Rachel Reeves announced initiatives aimed at accelerating infrastructure projects and private investment to boost economic growth. Following Labour's election victory, Reeves and Prime Minister Keir Starmer are focused on tackling housing shortages, green energy development, and restoring investor confidence post-Brexit.

Britain's finance minister Rachel Reeves announced on Monday that the new government has begun unblocking infrastructure projects and private investment as part of a new 'national mission' to drive economic growth.

After last week's landslide election victory, Reeves and Prime Minister Keir Starmer committed to swiftly addressing long-standing problems. 'We know we can't turn things around overnight. We face a dire inheritance. But this is our down-payment,' said Britain's first female finance minister.

Reeves emphasized the importance of partnering with businesses and restoring investor confidence post-Brexit, additionally promising faster planning approvals for infrastructure, including more wind farms, and mandatory house-building targets for local authorities.

(With inputs from agencies.)