Chancellor John Healey unveils £150m growth fund for North as he pledges to steer Britain through economic turmoil

JOHN Healey will today gamble on growth to steer Britain through money market turmoil. The Chancellor is betting on an economic boom in the wake of City jitters and Iran War fall-out. John Healey will gamble on growth to steer Britain through money market turmoil Credit: Alamy Andrew Griffith branded Mr Healey’s announcement a ‘policy-light word salad’ Credit: PA He is under pressure to boost defence spending and faces putting up taxes in late October’s Budget. Mr Healey will present Britain as “turning a corner” despite a slew of Labour taxes. Sign up for the Politics newsletter Thank you! He will put more power in the hands of local leaders and say that growth can offset persistent inflation triggered by rising oil and gas prices. He will say: “A new story about Britain. An optimistic story. One of resilience. Pride. Huge latent potential. A country turning a corner. A country whose people, businesses and communities are ready to seize the opportunity of new technologies and new ideas.” The Chancellor will announce a £150million fund to help businesses in the North grow and create jobs. Labour has already pledged to save small firms £450million by slashing form-filling. Shadow Chancellor Andrew Griffith branded Mr Healey’s announcement a “policy-light word salad”, adding: “It’ll do little to comfort hard-working families and businesses worried about more tax rises.” Reform’s Robert Jenrick said: “Even Rachel Reeves had more vision than this guff.” Most read in The Sun Meanwhile, the British Chambers of Commerce says Employer National Insurance should be axed for under-25s to make it cheaper fto hire youngsters. It could be paid for by scrapping the triple lock, the group claimed. And a consultancy says households would see a boost of £2,800 a year if the country emulates Greater Manchester’s growth since devolution. Mandala Partners says £8.5billion handed to mayors could unlock 100,000 homes and support 70,000 jobs. Comment now