Skip to main content
The Morning Star Shop
Labour’s public-private plans are just a return to the dreaded PFI era
SOLOMON HUGHES warns Reeves’s proposed national wealth fund hands City financiers control over billions in public money for big business — and we get... to pay!
Shadow Chancellor Rachel Reeves

HOW will Keir Starmer’s Labour try to “grow the economy?” The short answer is it is going to try to use public money to persuade international investors to put cash into “growth” industries.

It’s the return of the public-private partnership. The big danger is that, like Labour’s last public-private partnership, the private corporations will get all the growth, while the public sector gets ripped off.

The main economy-grower Starmer is promoting is Rachel Reeves’s proposed national wealth fund. It will invest in key industries like “green energy” and other modern manufacturing sectors.

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
Prime Minister Keir Starmer speaks as he hosts a VJ Day commemorative reception in the garden of 10 Downing Street, London, August 14, 2025
Features / 5 September 2025
5 September 2025

Keir Starmer’s hiring Tim Allan from Tory-led Strand Partners is another illustration of  Labour’s corporate-influence world where party differences matter less than business connections, writes SOLOMON HUGHES

Defence Secretary John Healey (third left) and his French counterpart Sebastien Lecornu (second left) view a long-range air-launched Storm Shadow cruise missile, during a visit to MDBA in Hertfordshire, July 9, 2025
Features / 22 August 2025
22 August 2025

MBDA’s Alabama factory makes components for Boeing’s GBU-39 bombs used to kill civilians in Gaza. Its profits flow through Stevenage to Paris — and it is one of the British government’s favourite firms, reveals SOLOMON HUGHES

Rachel Reeves and Jonathan Reynolds
Features / 8 August 2025
8 August 2025

SOLOMON HUGHES asks whether Labour ‘engaging with decision-makers’ with scandalous records of fleecing the public is really in our interests

Prime Minister Keir Starmer, Chancellor of the Exchequer Rachel Reeves and Business Secretary Jonathan Reynolds during a visit to Horiba Mira in Nuneaton, to mark the launch of the Government's Industrial Strategy, June 23, 2025
Features / 25 July 2025
25 July 2025

Labour’s new Treasury unit will ‘challenge unnecessary regulation’ by forcing nominally independent bodies like Ofwat to bend to business demands — exactly what Iain Anderson’s corporate clients wanted, writes SOLOMON HUGHES

Similar stories
Activists from Fossil Free London and Green New Deal Rising
Features / 31 January 2025
31 January 2025
BERNIE EVANS despairs of a government that is asking the crooks sucking Britain dry how to get the economy back on track
Chancellor of the Exchequer Rachel Reeves at the Confederati
Features / 9 January 2025
9 January 2025
Labour’s ex-banker Chancellor plans deregulation while City profits soar and customers suffer — between money laundering scandals and the exploitation of Covid loans, it’s clearly time to end this madness, says BERNIE EVANS
CORPORATE OVERLORDS: Keir Starmer and Rachel Reeves host an
Features / 3 December 2024
3 December 2024
The left must call out the fact that BlackRock and private billionaires have merged with the state apparatus as our leaders abandon any pretence of there being a ‘free market’ for direct and overt corporate control, writes JOE GILL
Rachel Reeves met Green Finance Institute chief executive Rh
Features / 19 September 2024
19 September 2024
SOLOMON HUGHES reveals how one of the organisations shaping Labour’s investment plans was created by Tories and bankers, looking like a slightly green-flecked PFI vehicle instead of a body for proper investment