Home » Keir Starmer Says Government Should Urgently Reconsider Mini-Budget Plans In Light Of IMF Criticism – Live

Keir Starmer Says Government Should Urgently Reconsider Mini-Budget Plans In Light Of IMF Criticism – Live

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Starmer: government ‘has got to respond’ to IMF warning

Good morning. Keir Starmer’s speech to Labour delegates was widely praised yesterday, but he must be the first opposition leader in many years whose conference speech has, in effect, received an endorsement from the IMF. In his speech, Starmer said:

The government has lost control of the British economy – and for what? They’ve crashed the pound – and for what?

Higher interest rates. Higher inflation. Higher borrowing. And for what?

Not for you. Not for working people. For tax cuts for the richest 1% in our society. Don’t forget. Don’t forgive.

The IMF did not put it quite like that, but in an extraordinary statement last night it said something broadly similar – criticising the tax cuts (“we do not recommend large and untargeted fiscal packages at this juncture”) and calling for a rethink.

Starmer is doing a round of interviews this morning. Speaking to Nick Ferrari on LBC, Starmer said that, in the light of the IMF warnings, the government should urgently review the plans it set out in its mini-budget. He said:

The IMF statement is very serious, and it shows just what a mess the government have made of the economy. And it is self-inflicted. This was a step they didn’t have to take …

We all look at the graph and we see the pound falling, but it’s not an abstract graph; this is reflected in people’s mortgages etc and people are very, very worried this morning.

Some people who thought they had a mortgage arrangement last week now haven’t got one. Imagine that, a first-time buyer, suddenly your dream goes up.

This government has got to respond to this. They’ve got to set out, in terms, how are they going to fix the problems that they have made.

At the moment they are saying they might be doing something in November. That’s far too long. They’ve got to review the plans they put out on Friday. They’ve got to do it urgently, in my view.

Here is the agenda for the day.

9.55am: Conference opens with a session including speeches from Wes Streeting, the shadow health secretary, Rosena Allin-Khan, the shadow minister for mental health, and Bridget Phillipson, the shadow education secretary.

11.30am: The Belarus opposition leader Sviatlana Tsikhanouskaya addresses the conference.

11.45am: Angela Rayner, the deputy Labour leader, speaks as the conference concludes.

I try to monitor the comments below the line (BTL) but it is impossible to read them all. If you have a direct question, do include “Andrew” in it somewhere and I’m more likely to find it. I do try to answer questions, and if they are of general interest, I will post the question and reply above the line (ATL), although I can’t promise to do this for everyone.

If you want to attract my attention quickly, it is probably better to use Twitter. I’m on @AndrewSparrow.

Alternatively, you can email me at [email protected]

Q: Was it a mistake to campaign for Jeremy Corbyn to be prime minister?

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Starmer says he does not regret serving in the last shadow cabinet. But he always said the party had to change, he says.

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Q: What was your reaction to what Rupa Huq said about Kwasi Kwarteng?

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Starmer says what she said was wrong and “racist”. He is very pleased the Labour party acted. An independent process will now consider what happens next.

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