The green shoots of economic growth, Crawley Observer Column, Wednesday 27th May 2026

As I’ve often written before, the UK has been in a challenging position for some time. The long-term impact of the Banking Crisis, followed by Austerity, Brexit, and COVID-19 left us with little room for borrowing and low growth rates.

This weak position has been compounded by the unwinding of globalisation as the Russia-Ukraine War, US tariff war, and US-Iran War disrupted the free flow of goods and skills which since WWII delivered the biggest increase in material wealth in history.

Regardless, the Government has gained trade deals between economies collectively representing 71% of global GDP, announced the better part of a trillion pounds of infrastructure investment, developed strategies for skills and industry, and secured hundreds of billions in private investment.

The King’s Speech adds to this, delivering more seamless economic activity with our largest trading partner, enabling greater growth of key sectors like finance and aviation, protecting small businesses, and ensuring business regulation protects stakeholders with the minimum impact upon economic activity.

It’s starting to work. The UK now regularly sees growth rates faster than the rest of the G7, a ridiculous idea before the last election, and despite the many global factors pushing up prices, inflation is currently below its July 2024 rate.

Yet, economic growth isn’t meaningful unless it is felt in people’s daily lives across the UK. That’s why we’ve put an extra £50bn into day-to-day public services while providing free breakfast clubs and Best Hub services, increasing free childcare hours, cutting the cost of school uniforms, expanding free school meals and scrapping the two-child cap.

We’re on course for the fastest reduction in poverty in UK history, with pensions up, National Living Wage and National Minimum Wage up, rail fares frozen, prescription charges frozen, fuel duty frozen, and £117 off people’s energy bills while the Employment Rights Act puts the power in your hands to secure better pay and terms and conditions at work.

There’s more to be done, particularly on housing affordability, but all the facts are clear: this is a Labour Government that is on your side.