Invest In Britain

Invest in Britain is a campaign calling on politicians to substantially raise public investment to build a strong, sustainable, inclusive, resilient economy.

Let’s not settle for decline—let’s invest in a prosperous, vibrant Britain.

Find out more: investinbritain.org.uk

Responding to the Chancellor's speech at the Labour Party Conference today, Louis Willis, Director of the Invest in Britain campaign, said:

Invest in Britain is a campaign calling on politicians to substantially raise public investment to build a strong, sustainable, inclusive, resilient economy.

Let’s not settle for decline—let’s invest in a prosperous, vibrant Britain.

Find out more: investinbritain.org.uk

"Fiscal policy isn't an end in itself: its purpose is to deliver changes that improve both the fabric of our country and the lives of the people who live in it. The Chancellor must use the Budget as an opportunity to invest in Britain's future, not treat is as an exercise in short-term book-keeping."

Louis Willis, Director of the Invest in Britain campaign, which organised the letter, said:

They also advise the Chancellor to move to one fiscal forecast a year to minimise volatility. Pro-investment reforms to the fiscal framework such as “requiring governments to address long-term risks, like climate change, at fiscal events”, “could also boost fiscal credibility”.

They suggest the government should also focus on rebalancing the tax and pensions system so that better-off older people “make a much larger contribution to addressing the fiscal pressures” arising from increased NHS, social care and pensions spending.

A “much bolder approach” is required to meet the structural challenges the UK faces. But this is hampered by a fiscal policy debate that instead focuses unhelpfully on “whether or not the government can hit arbitrary, short-term targets determined by highly volatile forecasts.”

They argue that the £113bn additional investment announced since last year’s Budget is a “useful step in the right direction”, but this still leaves public investment flat as a share of GDP over the parliament – and lower than both the OECD and the UK post-war averages.

The letter was signed by: Lord Gus O’Donnell, Lord Jim O’Neill, Professor @mazzucatom.bsky.social, @elerianm.bsky.social, Professor Sir @uofgvc.bsky.social, Professor @sjwrenlewis.bsky.social and Professor @jdportes.bsky.social.

Policymakers urge Rachel Reeves to tax ‘better-off older people’ Economists and academics tell the chancellor to stabilise the public finances by boosting investment with levies on wealth and stamp duty reform

Some of the UK’s most distinguished economists have written to the Chancellor warning that fiscal sustainability will not be achieved “without a significant further increase in public investment” to drive economic growth: www.thetimes.com/article/5acc...

The UK desperately needs a public bank that is laser focussed on delivering for climate, nature and living standards.

The National Wealth Fund is an opportunity to have just that.

Read our new briefing for how it can be strengthened: bit.ly/4eoQcdI

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Here's what our Campaign Director, @louiswillis.bsky.social, had to say about today's Comprehensive Spending Review: 👇

Here’s what Invest in Britain Director @louiswillis.bsky.social had to say ⬇️

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This number is even higher for Labour-Green switchers (68%) and Labour-Liberal Democrat switchers (70%), supporting similar research from @persuasionuk.bsky.social.

7/8 bsky.app/profile/stev...

Labour MPs’ worries about spending cuts are well-founded: a separate poll by @yougov.co.uk found 2024 Labour voters are overwhelmingly opposed to cutting spending for public services, even if that means raising taxes or borrowing.

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This includes 32% of Labour MPs who think the government should reform its fiscal rules to create space for investment and spending. 11% of Labour MPs think the government should raise taxes, while 22% support reforming fiscal rules and raising taxes.

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And close to two thirds (65%) of Labour MPs think the government should respond to ongoing global economic uncertainty by changing course on fiscal policy in order to fund public investment and spending.

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With the Spending Review widely predicted to include cuts for many government departments, the majority of Labour MPs (59%) think that spending cuts would have a negative impact on the government’s ability to keep its promises.

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Ahead of next week’s Spending Review, almost two thirds (64%) of Labour MPs believe the government’s fiscal rules make it harder for the government to keep its promises to raise living standards, improve public services and tackle climate change.

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Majority of Labour MPs oppose Rachel Reeves’s fiscal rules Divisions within the party are exposed as two thirds of MPs are against the Rachel Reeves’ fiscal plans

🧵New polling from @investinbritain.bsky.social by
@survation.bsky.social reveals a majority of Labour MPs want the Chancellor to change course on fiscal policy.

1/8 thetimes.com/article/6448...

Briefing on the 2025 Spring Statement - Invest in Britain

The Chancellor announced spending cuts last week to meet a highly uncertain forecast of fiscal headroom in 5 years' time.

Read our new briefing explaining why these cuts harm the UK’s growth prospects & have self-defeating effects on debt sustainability: investinbritain.org.uk/resource/bri...

At a Treasury Select Committee evidence session on the Spring Statement, the OBR's Richard Hughes explained how difficult it is to forecast fiscal headroom accurately, and that public policy should "not just respond to where the economy might be headed in a 5 year period".

Briefing on the 2025 Spring Statement - Invest in Britain

You can read our Spring Statement briefing 'Why the
Chancellor cut spending and why it is a mistake' here ⬇️ 4/4
investinbritain.org.uk/resource/bri...

The fiscal framework should be a tool to help the government achieve its growth objectives and ensure fiscal sustainability. Given its ongoing failure to serve either purpose, there is a strong case for review. 3/4

Cutting spending to meet uncertain targets is a profound mistake that will harm the UK’s growth prospects and have self-defeating effects on debt sustainability. 2/4

Yesterday the Chancellor announced £8.4bn of cuts to welfare and departmental spending in order to meet her fiscal rules. This decision is based on forecasts which the OBR warn are highly uncertain. 1/4

“It’s clear that short-term book-keeping continues to be the driving force behind the Chancellor’s decisions today. She is yet to break with the economic logic that has left us with crumbling public services, falling living standards and weak growth. “Delivering a decade of national renewal requires a step change in investment in public services, climate action and a just transition. That is the only route to real security. “This means tax reform must be back on the table at the next Budget. Ensuring those with the broadest shoulders pay their fair share should be a priority.”

Invest in Britain Director @louiswillis.bsky.social responds to the Chancellor's Spring Statement earlier today ⬇️

Invest in Britain is a campaign calling on politicians to substantially raise public investment to build a strong, sustainable, inclusive, resilient economy.

Let’s not settle for decline—let’s invest in a prosperous, vibrant Britain.

Find out more: investinbritain.org.uk

Delivering growth - the government's ‘number one mission’ - “will require more current and capital spending, including investment in public services, skills, climate action and the social safety net.”

And that will require “substantial additional tax revenues”.

They argue that “the last fifteen years have taught us that the UK cannot cut its way to growth.”

Although increases in spending and public investment at the last Budget were a welcome step, the boost to investment only cancelled out the cuts planned by the last government.