Chancellor Rachel Reeves has been advised on the "one thing she must do" to ensure economic growth in Britain, following her Spring Statement this afternoon.
Reeves stressed that Labour needs to be "active" to secure the future and deliver prosperity amid growing economic concerns.
However, the Chancellor also warned of "uncertain" times ahead due to global events, with a boost of £2.2billion being invested in Britain's defence systems.
Justin Urquhart Stewart revealed the 'one thing' the Chancellor must adopt to ensure economic growth
GB News
Speaking to GB News, Business commentator Justin Urquhart Stewart claimed that the Chancellor's primary task is building confidence in the economy.
"If you get confidence, then actually people start spending more, the companies will actually start investing," he said.
Urquhart Stewart highlighted enterprise investment schemes as an "easy win" that could be broadened.
He argued these schemes "doesn't cost the Government anything because it's a guarantee of half the capital being used".
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Rachel Reeves delivered her Spring Statement in the Commons today
Parliament UKHe also suggested that if successful, such initiatives would generate more income for the Treasury.
"But it's as incentive for investments that is so important," he added.
Urquhart Stewart emphasised that these measures could help stimulate economic activity at a time when businesses and consumers need reassurance. He also advocated for making investment schemes more regionally focused rather than London-centric.
"A lot of it tends to be very focused on London - and you've got areas of the country then where who can access money - there is no shortage of money," he explained.
Urquhart Stewart told GB News that Reeves needs 'confidence' in her policies in order to grow economically
GB News
He noted that significant capital is tied up in pensions that could be directed toward local investments. The commentator referenced historical funding models as potential inspiration for modern solutions.
"In 1945 there were 45 stock exchanges in this country full of silly gits in red braces," he said.
While acknowledging many were "useless", he highlighted that seven main exchanges enabled "local money going into local businesses".
"I know these people running this business, I can invest in it," he said, suggesting this could reduce reliance on debt financing.
