Beirut: British Prime Minister Keir Starmer has expressed his strong support for last week's budget, calling the financial measures introduced by Chancellor Rachel Reeves a 'moment of personal pride.' Speaking at an event in central London on Monday, he highlighted the budget as a reflection of his long-term ambition to alleviate poverty, particularly through initiatives like removing the two-child benefit cap.

According to Anadolu Agency, Starmer emphasized the importance of making 'necessary' yet 'fair' choices within the budget, acknowledging the challenges posed by tax increases. He argued against further cuts to public services or increased borrowing, suggesting that such approaches had already been 'tested to destruction.' He referenced projections from the Office for Budget Responsibility, which indicated that austerity had negatively impacted the UK's long-term productive capacity.

Starmer insisted that the budget aimed not only to alleviate the cost of living but also to provide 'security' for citizens. He expressed confidence in surpassing economic growth forecasts, citing successful trade deals and substantial investments as evidence of the UK's economic control and potential. He detailed reforms in areas such as planning, industrial policy, and artificial intelligence, which he believes are essential for economic growth and entrepreneurship.

Additionally, Starmer addressed the necessity of welfare reform and the UK's economic relationship with Europe post-Brexit. He acknowledged that the Brexit trade deal had adversely affected the economy and advocated for stronger ties with the EU. He also discussed regulatory reform, referencing a report from the nuclear regulatory taskforce which criticized excessive regulations in the nuclear sector, and called for the government to reduce such regulatory burdens.