What has Starmer Done in his First Week?

this video is brought to you by skillshare we're now roughly a week into the new labor Government after 14 years on the opposition benches the labor party now has their chance to change the country considering that they won the second largest number of seats in their history this shouldn't be all that difficult and as a result of this many of their supporters are expecting them to move quickly to rebuild the country back in 1997 the last time labor won a landslide election Victory against the Tories and were thrust into after years in the wilderness the then Prime Minister Tony Blair and then Chancellor of the ex cheer Gordon Brown wasted no time in making the changes they thought the country needed for example only 4 days in they announced plans to make the bank of England independent something that was welcomed by the financial establishment this appeared to set the stage for the rest of new Labor's first term in office with them focusing on making significant constitutional changes especially on things like Devolution so it's worth looking at starmer's government to see what they've done in their first week in power whether there were any major changes akin to Bank of England Independence and what this tells us about how starma will govern as prime [Music] minister before we start if you haven't already please consider subscribing and ringing the bell to stay in the loop and be notified when we release new videos after all of the pump and ceremony associated with becoming prime minister starma wasted no time in appointing his cabinet for the most part this was as expected Rachel Reeves became Chancellor the first woman to hold the position in the history of the United Kingdom Angela Rena became Deputy Prime Minister and housing secretary David Lamy became foreign secretary and deette Cooper became Home Secretary one of the most surprising decisions starma made here though was to appoint Richard hermer as attorney general rather than Emily Thornbury who had shadowed the role since the end of 2021 it's not yet clear exactly why starma made this last minute decision similarly shocking was his decision to appoint experts to Junior roles in the government Patrick Valance who's best known for his role as Chief Scientific Advisor during the coronavirus pandemic was appointed to the House of Lords and made the minister of State for science research and Innovation additionally James timson the chief executive of the timson group and someone who had held the role of chair of the prison reform trust was was also appointed to the House of Lords and given the position of minister of State for prisons parole and probation it seems then that while many of st's appointments were mostly to be expected he's trying something new with putting experienced people into government from outside the world of politics something that he may continue to do as prime minister anyway let's move on and have a quick look at what starm has done on the policy side of things on Saturday one of the first things starma did as prime minister was announced that that his government would no longer pursue the gimmick of deporting migrants that arrived illegally in the UK to Rwanda now this wasn't too much of a surprise starma did campaign on the promise to scrap the scheme in the weeks leading up to the election however to bring it up so soon after his election Victory really demonstrates how Keen he is to wash his hands of it this wasn't the only torera policy that they announced they'd be scrapping though in one of her first acts as Chancellor Rachel Reeves lifted the deao ban on the creation of onshore wind farms essentially there were two footnotes in the National planning policy framework or nppf which stated that in order for such wind farms to be created incredibly strong proof was required that there was no opposition to its creation this made it virtually impossible for onshore wind farms to be built these footnotes have now been deleted ending the deao ban it seems that reversing nimbyism is high on Labour's agenda as in the very same speech Rees also announced her plans to introduce compulsory house building targets something that she claims will help the UK build the one a half million houses planned to be built over the course of this Parliament Reeves additionally stated that the government had already started work on building these houses by giving permission for 14,000 new homes in Liverpool Central docks wer North stow and Langley suon coldfield it seems though that Reeves wasn't done yet on Tuesday she announced one of her biggest announcements yet as Chancellor that she's going to establish a national wealth fund now again this was mentioned in the manifesto but the speed with which it's being set up is surprising now essentially the plan is to use public money to invest in key Industries alongside private Investments the use of public money is meant to signal to investors that if the government has confidence in it then they should too it's hoped that for every1 the government invests the fund will attract £3 of private investment it's important not to confuse this with a sovereign wealth fund something that has been introduced in Norway and Saudi Arabia to manage money that the government receives through the sale of state-owned Natural Resources anyway it was announced this week that the fund is planning to invest about 1.8 billion pounds of public money in ports 1.5 billion pound in gigafactories 2.5 billion to clean steel1 billion for carbon capture and half a billion pound for green hydrogen in total this takes the public investment up to 7.3 billion there are two main questions with this though firstly will the government be able to attract three times the amount of public investment in private investment the second is whether the fund will generate an annual return for the taxpayer so far the treasury has stated that it hopes that returns could be in the range of 2 and a half% to 4% annually now none of this should really come as a surprise all of the policies mentioned so far have been discussed prior to their election with some even featuring in the manifesto they've had a long time too to work on their specific plans as polls have shown for the better part of two years that they're on track to beat the Tories at any subsequent election what will be interesting though is what's mentioned in The King's Speech later this month the speech is written by the government and outlines what they plan to do in the next Parliament when starma gets back from his NATO Summit in Washington he'll have roughly a week to put this together before before the state opening of parliament at the end of the week we'll then see exactly what starm is to prioritize and how he plans to govern over the next Parliament and we'll keep you updated on this as it happens running a profitable online news brand that gives away free content is a little tricky so recently we launched an online 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Channel: TLDR News

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Length: 8min 3sec (483 seconds)

Published: Fri Jul 12 2024