December 12, 2024
Starmer Targets Boost in UK Disposable Income by 2029 #UKFinance

Starmer Targets Boost in UK Disposable Income by 2029 #UKFinance

CashNews.co

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By Andrew MacAskill

LONDON (Reuters) – British Prime Minister Keir Starmer on Thursday announced six priorities intended to convince dissatisfied voters he was addressing their concerns after his approval ratings have plunged since Labour’s national election victory in July.

Below is a list of what he called “milestones” he wants to achieve by the next election due by 2029:

RAISING DISPOSABLE INCOME

Starmer said he wants to raise real household disposable income across every part of the United Kingdom by the next election due in 2029.

Household disposable income, adjusted for inflation, rose on average by just 0.3% per year between 2019 and 2024, marking the worst parliamentary term since records began in the 1950s, according to the Institute for Fiscal Studies.

The Office for Budget Responsibility predicts only a small improvement in the current parliament, which looks on track to be the second-worst in terms of disposable income.

RECRUITING MORE POLICE OFFICERS

Labour repeated the party’s promise to hire an extra 13,000 police officers and community support officers working in neighbourhoods in England and Wales.

More than half of the public do not trust the police to solve crimes, and over a third said they have no faith in the police to maintain law and order, a poll by YouGov earlier this year found.

SCHOOL-READY CHILDREN

Starmer said he wanted to ensure that 75% of five-year-olds were ready for school by the time they enter reception, the first year of school.

One in four children starting school in England and Wales are not toilet-trained, nearly half of pupils are unable to sit still and a third cannot eat or drink independently, according to the early-years charity Kindred2.

Teachers have said they believe the reduced time some children spent in nursery during the COVID pandemic and more time spent on electronic devices has played a role.

DECARBONISING THE ECONOMY

The government announced a target to decarbonise the economy by being on track for at least 95% clean power by 2030.

The decarbonisation target, which will mean moving away from fossil fuels and a rapid increase in wind and solar power, is part of Britain’s efforts to reach its wider climate goals.

The proposal would mean rapidly weaning the country off fossil fuels such as gas, which accounts for over a third of the country’s electricity.

IMPROVING THE HEALTH SERVICE

Starmer announced plans to cut waiting lists in the state-run National Health Service.

The prime minister said he wanted 92% of patients who needed routine operations to be seen within 18 weeks.

The 18-week treatment target has not been met since 2016, according to the House of Commons Library, which carries out research for lawmakers.

BUILDING MORE HOMES

Starmer reiterated a previous target to build 1.5 million more homes over the next five years and fast track planning decisions on 150 infrastructure projects.

House builders, infrastructure groups and investors have long complained that planning laws have prevented them from building, with local communities often able to tie projects up in reviews and legal challenges.

No British government has built 300,000 homes every year new homes in half a century, according to the University of Liverpool.

(Reporting by Andrew MacAskill; Editing by Elizabeth Piper and Alison Williams)

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