Chancellor Rachel Reeves has set out her vision for Britain's economic recovery, pledging to "bring investment back to Britain" as she prepares to unveil her first Budget in late October.

Speaking at the Labour Party Conference in Liverpool today, Reeves delivered a passionate address, promising to turn the page on years of Conservative austerity and usher in an era of growth, infrastructure renewal, and industrial strategy.

In an interview with Times Radio ahead of her conference speech, Reeves emphasized Labour’s commitment to supporting infrastructure projects and reigniting investment, declaring that her government would, "back the builders, not the blockers."

As Labour settles into its first weeks in power, Reeves is positioning her October 30 Budget as a major step towards protecting living standards, revitalizing the NHS, and tackling the UK’s long-term economic challenges.

“There will be no austerity under Labour,” said Reeves, responding to concerns around spending cuts. She outlined her vision for Britain’s future, stressing plans to invest in critical infrastructure such as housing, energy systems, digital technology, and research facilities. "I want them here in Britain," she said, pointing to a global race for jobs in emerging industries like life sciences, low-carbon energy, and tech.

Addressing a busy conference hall in Liverpool, Reeves’ speech was briefly interrupted by a heckler, but she pressed on, receiving applause as she reiterated her opposition to the austerity policies of previous Conservative governments.

“Conservative austerity was a destructive choice for our public services and for investment and growth too," she said. "We must deal with the Tory legacy—that means tough decisions—but I won’t let that dim our ambition for Britain."

This commitment is seen as central to Labour’s attempt to break away from the policies of the past and carve out a new path for the country. With economic concerns topping the list for many voters, Reeves wants to signal that Labour will prioritize investment and opportunity over cuts and restraint.

Her pledge to "rebuild Britain" through targeted spending and long-term growth strategies comes as the new government faces the challenge of addressing the Conservative legacy while responding to the needs of a public increasingly anxious about living standards and public services.

One of the key pillars of Reeves’ upcoming Budget is the launch of a new industrial strategy, set to be revealed in October. The strategy, she said, will focus on creating jobs, unlocking investment, and fostering prosperity across the country. Reeves’ remarks have raised hopes that Labour’s economic plan will be the foundation for a sustained recovery following a decade of sluggish growth and economic uncertainty.

As the conference concluded, Reeves' message was clear: Labour is ready to lead Britain into a new era of growth and renewal. "There’s no reason why Britain shouldn’t be at the forefront of the global race for the industries of the future," she said. With the October 30 Budget on the horizon, all eyes are on Reeves as she prepares to deliver the next chapter in Labour’s ambitious vision for the country.

Her first Budget promises to be a significant test of Labour's ability to deliver on its campaign pledges, as anticipation builds around the details of her industrial strategy and the broader economic agenda. For now, Reeves has set the tone, casting Labour as the party of growth and investment, and positioning herself as the Chancellor determined to rebuild Britain’s future from the ground up.