• Shadow Business Secretary outlines the key principles underpinning Labour’s plan to earn and grow our way to higher living standards
• Next Labour government will grow the number of middle-income jobs to help tackle the cost-of-living crisis
• Agenda 2030 will be the basis for further announcements by Shadow Ministers between now and the 2015 election

Chuka Umunna will set out ‘Agenda 2030’, Labour’s plan for long-term sustainable growth in a major speech to the EEF manufacturers’ organisation this evening.

Labour’s approach will mean rebalancing Britain’s economy, addressing long-term challenges and fostering sustainable growth through a proper industrial strategy, enabling Britain to grow its way out of the cost-of-living crisis so that any recovery benefits all working people and not just a few at the top. To achieve this, the next Labour government will adopt the objective of increasing the number of middle-income jobs in the UK labour market.

Speaking at the EEF’s Annual Manufacturers’ Annual Dinner as part of the organisation’s National Manufacturing Conference, Mr Umunna will outline four underlying principles of Agenda 2030 as part of Labour’s “central mission”:
- Building on the talents of all;
- Solving tomorrow’s problems today;
- Active government promoting long term investment;
- Openness: An outward-facing approach to the world

He will slam the Tories’ approach as “disastrous for Britain”: being closed to the outside world and favouring isolation over partnership with Europe, being wedded to reducing the size of the state as an end in itself, and lacking credibility on science and innovation given climate change denial in the Tory party. He will argue this means they are unable to rebalance and achieve the long-term growth which Britain needs.

Mr Umunna will refer to the support for Labour’s proposal for an EU growth commissioner and announce that to help boost creation of high-skilled, better-paid jobs the next Labour government will enable Catapult Centres - which bring together scientists and engineers to develop technologies and turn new ideas into successful businesses - to provide apprenticeships, as well as building on the role of the Technology Strategy Board which supports the development of the innovative technologies to underpin the jobs and industries of the future.

He will also say that as part of an “Agenda 2030, based on a clear sense of direction” the next Labour government will ensure that procurement decisions take into account the impact of local and national jobs and growth as other European countries do, Mr Umunna will say, learning lessons from the Tory-led government’s failings in securing UK jobs in relation to Thameslink trains contract in 2011.

On Agenda 2030, Mr Umunna will say:

“We, the Labour Party, are clear about our goal: a high-productivity, high-skilled, innovation-led economy. A balanced, resilient economy succeeding in the world, creating good jobs and opportunities, offering people a ladder up and the chance to make the most of their potential. That is the only way that we will tackle the cost-of-living crisis and make sure that any recovery benefits all working people, and not just a few at the top.

“That is our central mission, what we want to be known for, and what we want people to vote for above all else. Yes, it’s bold and ambitious but it’s the only way we can secure the future the British people deserve – a successful economy underpinning a strong society.”

On economic responsibility, he will say:

“There are those who will tell you – as the Chancellor did in Birmingham earlier this year, as Tea Party Republicans have argued in the States – that the central economic challenge facing the nation is not the size or nature of our economy, but the size of our government.

“Of course, nobody wants big government for the sake of it and the state must be affordable. We must bring the public finances back into balance following the huge costs of the global crash that irresponsible behaviour in the banking sector created.

“That will involve tough decisions. If elected in 429 days, we will have to govern with less money. We know that. We will make cuts and Ed Balls has been explicit: there’ll be no extra borrowing to fund day to day expenditure in 2015/16.”

“Rest assured that we understand the challenge in respect of the public finances. And we are up to it. But reducing the deficit is neither the only economic challenge we face, nor – in the longer term – the most important. Permanent austerity is not what our economy needs in order to grow. To some it may be an ideological choice, but it is not an economic policy.”

On openness, he will say:

“Success in the world requires international engagement; an open and outward looking approach to the world. To make the most of our opportunities around the globe, we must remain open to the world, shaping the forces of change in partnership with other countries – in Europe and beyond.

“You’ve already heard from someone who speaks a lot of sense on this: Ken Clarke. But the fact is most of his Conservative cabinet colleagues and his party – like UKIP – are intensely relaxed, even enthusiastic, about the prospect of our exit from the EU and choosing isolation instead.

“That would be disastrous for Britain. You simply cannot claim to be pro-exports if you are anti-EU. Shutting ourselves off – as they suggest – poses a huge threat to our future prosperity.”

On science and innovation, he will say:

“You can’t credibly claim to be supporting innovative companies like Siemens help Britain become a global leader in the production of green technologies, if half your Cabinet and your party do not accept the basic science of climate change in the first place. You can’t claim to be pro-innovation if your party is anti-science.

“Catapult Centres were a brainchild of the last Labour Government, taken forward by this one. Just as they are at the cutting edge of technology, so we will support them to train apprentices in the latest and best ideas too.

“It will be a priority for us to invest in our science base and develop our national innovation system, including building on the role of the Technology Strategy Board.”

On procurement, he will say:

“One way we will deepen the sectoral approach is by smarter use of public procurement to back our target industries. I was pleased to see jobs secured in Derby with the Crossrail contract going to Bombardier. But the Government denies ‘community benefit’ can be a factor in procurement within EU rules.

“They are wrong on that. Under a Labour Government we will take account of ‘community benefit’ as other countries across the EU do when making decisions.”