John Healey to pledge 'new industrial age'... as another tycoon quits the UK
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By JASON GROVES, POLITICAL EDITOR and DAVID WILCOCK, DEPUTY POLITICAL EDITOR
Published: | Updated:
John Healey will on Monday pledge a new 'age of industrialisation' - as another billionaire quits Britain.
The Chancellor will use his speech to the Labour conference in Liverpool to unveil new support for British shipyards.
This will include commissioning a new marine research vessel and new floating docks at a submarine base on the Clyde.
He will say his politics were 'shaped by the industrial heartlands of South Yorkshire'.
And he will point to the creation of a new advanced manufacturing park on the site of the former Orgreave coal mine, near Sheffield, as an indication that Britain still has an industrial future.
'Our coal mines are not coming back,' he will say, 'but this is how Britain's industrial past is being remade now for the modern world. This is the new age of industrialisation.'
He will say investment in shipbuilding can boost UK defence capability while also expanding an industrial base that spent years in decline.
His comments will come after financier Sir Peter Lampl, 79, became the latest billionaire to confirm he has left Britain.
John Healey will on Monday pledge a new 'age of industrialisation' - as another billionaire quits Britain
Sir Peter, who created the Sutton Trust charity to aid social mobility, said he had moved to the US because of the traffic in London and Labour's anti-car policies.
The private equity tycoon hit out at London mayor Sadiq Khan over the growth of bike lanes, low-traffic neighbourhoods and other 'anti-car' measures that prevented him from getting into the City quickly.
Saying he was too old for the Tube, Sir Peter added: 'Nowadays in the back of a cab, you crawl through central London getting overtaken by joggers.
'Incredibly, our once great capital city now has the slowest-moving traffic of any capital in the world. That doesn't look like progress to me. And it certainly isn't fun.'
Earlier this month, it was revealed Chris Rokos, founder of Rokos Capital Management, is preparing to move to Greece.
He is the UK's third-biggest taxpayer having paid some £330million in the latest fiscal year, according to the Sunday Times Tax List.
Mr Healey acknowledged a need to get a grip on the exodus of wealthy people who pay huge amounts of tax.
But he hinted he could raise the rate of capital gains tax in next month's Budget, saying it was the lowest of 'any European G7 nation'.
Tories accused Mr Healey of 'reheating' previous announcements on shipbuilding - urged him to commit to finding the cash to raise defence spending to 3 per cent by 2030.
Tory Shadow Chancellor Andrew Griffith said: 'Additional docks were announced months ago in the defence investment plan, which still has a £4.7billion black hole.
'Healey resigned warning Labour's failure to fund defence was making us unsafe. Now he is Chancellor, he still won't fund the 3 per cent he walked out over.'
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