Rachel Reaves' Move to Invite Senior Banking CHIEFS TO Downing Street to Discusses Ways of Stimulating Economic Growth Has Prompted One Financial Expert To Ask: “What has laboured be done for the last 14 years?”
The chancellor is believed to have summoned top executives at Barclays, Lloyds Banking Group, Natwest and Nationwide and others to a wednesday.
But Scott Gallacher, Director at Rowley Turton, Was Sceptical about the Benefits which would be accrue.
He SAID: “Rachel reenses meetings with the banks is all well and good, but the real question is when he needs to do this just months in the job.
“Did Labor Not Spend 14 Years in Opposition Developing A Proper Growth Strategy?
Mr Gallacher Suggested It Obvious For Years – Namely Low Growth, High Debt, Weak Productivity of Payments Deficit – Required More Than Ortge Lending and Consumer Confidence “to resolve.
He added: “We need a real economic strategy that priorities long-term investment, infrastructure and supply-side reforms.
“If LABOR DIIDN IS DAY A FULL-FORMED PLAN RADY to Go On Day One, What Exactly Were Doing for the Past Decade and A Half?”
Wes Wilkes, Ceo at Net-Worth NTWRK, Described Ms Reaves as “in Perpetual search of an echo”.
He explained: “She seems to be have conversations in as many corners as posible until She Finds some that agrees with her.
“The answer is staring in the face but it would take a dose of humility and some knowledge of the economic system. . “
Riz Malik, independent Adviser at R3 Wealth, Added: “Asking the banks for consulting regulators that appears to be out of ideas and Or Economic Growth.
“If they've exhausted all their plans, who is next on the list for Advice – Primary School Children?”
Posting on X on Thursday after the bank of England Rate by a Quarter of a Percent to 4.5 Percent, “The Interest Rate Cut Will Help Ease Cost Ith the Growth Rate.
“That's where we are going farther and faster for growth, taking on the blockers and ripping up unnecessary regulatory barriers, to get more in peoples pocket.”