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The Guardian view on Labour’s investment plans: sugaring the bitter pill of austerity | Editorial

The chancellor is right to be planning for the long term, but voters won’t be patient if change isn’t felt soonInequality between British regions is not a new problem and Rachel Reeves is not the first chancellor to want to close the gap. In 2014, George Osborne promised a “northern powerhouse” to rival the dominance of London and the south-east. He pledged devolution and investment in infrastructure to connect northern cities, to unlock productivity and growth.Since then, Britain’s economy has suffered multiple shocks, some external (the pandemic, inflation stoked by Russia’s invasion of Ukraine), others self-inflicted (Brexit, Liz Truss’s mini-budget). Each time, the damage was more severe in places already falling behind. Boris Johnson claimed levelling up as his defining purpose. Rishi Sunak let the ambition slide. Now it is being revived by a Labour chancellor. In a speech announcing transport investments on Wednesday, Ms Reeves promised a “renewal of Britain”, with prosperity ...


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