In her first speech as chancellor, Rachel Reeves will today announce a series of changes to unblock infrastructure and private investment in the UK.
Reeves, who is a former Bank of England economist, was appointed as the UK's first female chancellor on Friday after the Labour Party won a landslide victory in last week's general election.
Her speech later today will address leaders from industries such as financial services and green industries and tell them that economic growth is a "national mission" for the UK.
Reeves will say: "Where governments have been unwilling to take the difficult decisions to deliver growth – or have waited too long to act – I will deliver.
“It is now a national mission. There is no time to waste."
According to FT Adviser's sister title, the Financial Times, Reeves has spent the 72 hours since Labour’s landslide election victory in talks with Treasury officials about what can be done immediately to boost growth.
Among the measures predicted to be announced today is an attempt to unblock “stalled sites” of large housing schemes stuck in mid-development
Labour has also pledged to create a £7.3bn national wealth fund which would invest in strategic industries to promote growth, with the aim of attracting £3 in private investment for every pound spent.
Reeves is understood to have postponed the annual Mansion House speech on financial services which her predecessor, Jeremy Hunt, had scheduled for July 11.
Her first Budget is expected in September or October.
damian.fantato@ft.com
