Rachel Reeves promises to be 'first green Chancellor' and says 'fracking will not happen' if Labour elected

Shadow Chancellor Rachel Reeves has laid out her policy positions at the Labour Party conference in Liverpool

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Ms Reeves opened up arguably the most significant speech of her political career by picking apart Chancellor Kwasi Kwarteng's mini-Budget last week.

Speaking in the conference hall, she said of the Government’s economic plans: “Why should my constituents in Leeds West, why should the people in Merseyside, pay for tax cuts for those who are already the wealthiest?

“It’s not what anyone voted for, it’s putting our economy in danger and Labour will fight it every step of the way.”

She went on to outline Labour's plans for the energy crisis Britain currently finds itself in.

Rachel Reeves addressing the Labour Party conference
Rachel Reeves addressing the Labour Party conference
Sir Keir Starmer applauded Ms Reeves after her speech
Sir Keir Starmer applauded Ms Reeves after her speech

Ms Reeves said she would be Britain's "first green Chancellor" and promised that fracking "will not happen" if Labour win the next general election.

On climate change, she said: “We are feeling the consequences of a 12-year Tory experiment in unilateral energy disarmament.”

Ruling out fracking, she argued the alternative was Labour’s “green prosperity plan” to provide “the only sustainable solution to the energy crisis”, which she said would involve investing in renewables and nuclear power.

She said: “On climate change, the costs of inaction today will mean far greater costs tomorrow. I refuse to leave our children to pick up the pieces of our failure.

“I will be a responsible chancellor. I will be Britain’s first green Chancellor.”

She pledged to guarantee a minimum wage that “reflects the real cost of living”.

She told delegates: “On day one as chancellor, I will write to the Low Pay Commission with a simple instruction: that the minimum wage will be set at a level that reflects the real cost of living.

“The last Labour government delivered Britain’s first national minimum wage.

“The next Labour government will introduce a genuine living wage. That’s how we will give working people respect, that’s how we will give working people security and that’s how we will grow our economy too.

“It is time for a government that is on your side.”

Ms Reeves also attempted to draw a line between Labour and the Conservatives, reiterating a commitment to fiscal responsibility and fully-funded policy.

She said there would be no return to austerity, adding: “Every policy that Labour announces and every line in our manifesto will be carefully costed and fully funded.”