Keir Starmer unveiled significant measures to assist the car and pharmaceutical sectors in the UK as the government faces challenges from new US import tariffs. Speaking at a Jaguar Land Rover factory, he addressed the economic instability affecting stock markets due to a recent announcement by Donald Trump regarding tariffs on UK exports. Starmer's proposals include diluting electric car production targets, an investment in health data research, and efforts to streamline clinical trial processes. Emphasizing stability, he reiterated Labour's stance on existing tax policies, indicating a proactive approach to safeguard British industries from potential economic turmoil.
Starmer emphasized that the new US tariffs present a considerable challenge, with their economic impact posing significant concerns for Britain's industrial and export sectors.
He also stated his commitment to maintaining Labour's pledges on taxes, vowing not to increase VAT, income tax or national insurance during this parliament.
The prime minister outlined the intent to support British businesses amid market instability, highlighting initiatives to bolster the car industry and pharmaceutical sectors.
The measures, described as a downpayment, include a reduction of electric car regulations and efforts to accelerate clinical trial processes in the UK.
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