John McDonnell MP, Labour’s Shadow Chancellor, will pledge today that Labour could invest up to £30 billion in the North West when he addresses Labour’s North West Regional Conference in Blackpool.
The package forms part of Labour’s proposals for a £500bn investment and lending boost for the whole country, bringing jobs and growth to every region and backed up with a new National Investment Bank and network of regional banks, including a ‘Bank of the North’.
To coincide with Living Wage Week, John McDonnell will also re-affirm Labour’s commitment to write a real living wage into law and to charge a new living wage review body with the task of setting it at the level needed for a decent life.
John McDonnell will be joined by Rebecca Long-Bailey MP, Labour’s Shadow Chief Secretary to the Treasury and Gordon Marsden, MP for Blackpool South, on a visit to URPotential, a living wage employer in Blackpool, following his speech at the conference.
Speaking at Labour’s North West Regional Conference at the Hilton Hotel in Blackpool, John McDonnell MP, Shadow Chancellor, will say:
“Through Labour’s National and Regional Investment Banks, underpinned by our Fiscal Credibility Rule and backed up by a comprehensive industrial strategy it’s only Labour who are thinking seriously about this country’s future.
“Our policy for a real living wage would mean people can earn enough to live on and put an end to poverty wages.
“We want to see long-term patient investment to create the jobs of the future in new technologies, renewable energy and in transport infrastructure fit for the 21st century.
“This funding boost for the North West would go to the areas that need it most so that no-one and no community is left behind.”