Finally! Labour set to unveil long-awaited cost-of-living policy

Labour is finally preparing to make an intervention on the deteriorating cost-of-living crisis, with Keir Starmer set to give a major speech as early as next week.

According to PoliticsHome, Labour will make several “significant interventions” on the economy in the coming months – with the party elevating its policy to “crisis mode”.

The first intervention is expected to be a speech by Starmer, which will reflect “the scale” of the crisis facing households. It could take place as soon as Monday.

And, HuffPost UK reported, Sir Keir will begin setting out Labour’s response tomorrow during a visit to Edinburgh.

Keir wades in

The Labour leader has come in for criticism for being on holiday over the past fortnight as the full scale of the energy price crisis has emerged.

Experts forecast earlier this week that bills are set to top £4,200 a year from January.

And Gordon Brown, one of Starmer’s predecessors, made an eye-catching intervention this week, setting out how he thinks households should be helped weather the storm.

Writing in The Guardian, he said: “Time and tide wait for no one. Neither do crises. They don’t take holidays, and don’t politely hang fire – certainly not to suit the convenience of a departing PM and the whims of two potential successors.”

A Labour source told HuffPost UK: “A week may be a long time in politics but we were waiting for the forecasts this week to finalise our plans and have it out well in advance of the price cap announcement on August 26.”

Truss and Kwarteng

Meanwhile, Rachel Reeves – the shadow chancellor – is reportedly confident about facing a prime minister and chancellor team of Liz Truss and Kwasi Kwarteng should the pair enter Downing Street in September.

“The Tory leadership campaigns are playing to a gallery of Tory members – none of whom want ‘handouts’. But they also want to win the next election, and they’re not speaking to the country,” a senior Labour source told PoliticsHome.

“Far and away the biggest issue is the cost of living. I’m astounded they haven’t done more to show they recognise that. We’re going to get on that.”

While warning that Truss should not been underestimated, they added: “In terms of the political centre ground, she’s moving away from it and we’re moving much closer to it.”

Henry Goodwin

Henry is a reporter with a keen interest in politics and current affairs. He read History at the University of Cambridge and has a Masters in Newspaper Journalism from City, University of London. Follow him on Twitter: @HenGoodwin.