Labour's Economic Strategy: A Response to Rachel Reeves's Mais Lecture

In her 2024 Mais lecture, soon-to-be chancellor Rachel Reeves made the case for prioritising national economic security over the pursuit of ‘hyperglobalisation’. She put national economic productivity improvements at the heart of Labour's political-economic strategy, reflecting the emergence of a dual consensus on economic government that has developed independently of the Labour Party in recent years. Reeves has recognised that this offers space for the pursuit of a moderate social democratic agenda, but the political challenge for the Labour government will be to maintain public support until its gradualist growth policies begin to take effect.