Best thing we can offer young people is a job, not benefits, says chancellor

Live updates

1. 1h ago

   Chancellor John Healey Pledges New Age of Industrialisation

   Chancellor John Healey is pursuing a reindustrialisation strategy for the UK, placing a heavy focus on the defence sector. In his first speech as chancellor at the Labour conference, Healey announced a 6 billion pound plan for the Royal Navy and committed to building a research ship and Faslane dry docks within the UK. He argued that providing young people with a first job is more beneficial than offering welfare payments. While claiming the economy has turned a corner, Healey warned that the funding levels seen during the Blair era are no longer available.

   Why it matters

   This policy shift aims to revitalize British manufacturing through strategic state investment in security infrastructure. It marks a departure from welfare-centric support for youth in favor of employment-led growth. The initiative faces scrutiny over its financial viability given current fiscal constraints.

   What is confirmed

   • John Healey promised a new age of industrialisation for the UK during his first speech as chancellor.
   • The chancellor's reindustrialisation push focuses on the defence sector.
   • Healey announced a 6 billion pound plan for the Royal Navy.
   • The chancellor stated that the best thing to offer young people is a job rather than benefits.
   • Healey warned that Blair-era money is not available now.

   Still unconfirmed

   • Faslane dry docks and a research ship will be built in the UK.

   What to watch next

   • The publication of the first budget under John Healey.
   • Official procurement contracts for the Royal Navy plan.
   • Employment data for young people following the industrialisation push.
   Sources used for this update (37)

   1. BBC — John Healey to promise 'new age of industrialisation' for UK in conference speech
   2. Reuters — UK's Healey puts defence in focus for reindustrialisation push
   3. ft.com — Healey to promise ‘new age of industrialisation’ with £6bn Royal Navy plan
   4. The Guardian — John Healey addresses Labour conference in first speech as chancellor – UK politics live
   5. bbc.com — Faslane dry docks and research ship to be built in UK, says chancellor
   6. bbc.com — Best thing we can offer young people is a job, not benefits, says chancellor
   7. bbc.com — Labour conference live: Best thing we can offer young people is a first job, Healey says
   8. The Telegraph — This Healey schmaltzfest offers no solutions to Britain’s dire problems
   9. The Telegraph — Healey lays ground for welfare cuts
   10. The Guardian — The Guardian view on Britain’s new chancellor: his purpose must be to protect living standards | Editorial
   11. The Telegraph — There’s no money left, Healey is right there
   12. Financial Times — Blair-era money is ‘not there now’, Healey warns Labour
   confidence 90%