Rachel Reeves’s first few months as Britain’s top finance official has been marked by a steady drumbeat of bad news: a “black hole” in the public finances, higher taxes and low growth. On Wednesday, Ms. Reeves sought to change Britain’s prospects by laying out plans to boost the economy, including supporting another runway at Heathrow Airport.
An additional runway is “badly needed,” Ms. Reeves said in a speech to business executives. The debate about whether to expand the airport, which would be one of the largest infrastructure projects in Europe, has been running for more than two decades. “As our only hub airport, Heathrow is in a unique position and we cannot duck the decision any longer,” she said.
In recent weeks, Ms. Reeves has ratcheted up her efforts to spur growth, making numerous announcements and stressing optimism about the country’s outlook.
“Low growth is not our destiny,” she said on Wednesday. “But growth will not come without a fight.”
It’s a notable change in pace and tone from when Ms. Reeves became chancellor of the Exchequer last summer and warned of the dire state of the economy. At the time, she introduced measures like planning system reforms and a National Wealth Fund to encourage public and private investments, but those changes will take time to bear fruit.
Now, as companies and investors question whether her budget will generate growth and the global economy rapidly reorients around President Trump’s plans, there is an emphasis on more immediate payoffs.
“I will go further and faster to kick-start economic growth,” Ms. Reeves said.
Like many of the government’s plans to stimulate growth, the Heathrow expansion would be privately financed. It has faced stiff local opposition as it would include knocking down homes and building a large tunnel. But Ms. Reeves said the new runway would create 100,000 jobs, increase capacity for trade and reduce the number of planes circling overhead before they land.
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