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Coffee House Shots

Labour conference: 'a holiday from reality'?

Coffee House Shots

The Spectator

News, Politics, Government, Daily News

4.42.1K Ratings

🗓️ 29 September 2025

⏱️ 12 minutes

🧾️ Download transcript

Summary

Labour party conference has kicked off in Liverpool, and the Chancellor has just delivered her keynote speech.

‘Security, security, security’ was the message from Rachel Reeves as she addressed the Labour party faithful. The Labour government, she said, will create an economy that puts the British worker above all else. Aside from setting out her economic vision, she made time for a few jabs in Manchester mayor Andy Burnham’s direction and gave a nod to shadow education secretary Bridget Phillipson (should we take that as an endorsement?). Has she been taking notes from Gordon Brown?

Elsewhere, the mood in the bars is much more buoyant than it was last year – although that has a lot to do with the absence of Sue Gray. Starmer’s change of tack and taking the fight to reform on indefinite leave to remain, as well as the announcement of some juicy bits of policy, seems to have placated many. But is conference just a holiday from reality?

Lucy Dunn speaks to James Heale and Michael Simmons.

Produced by Oscar Edmondson.

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Transcript

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0:00.0

The economic tumults of the past month has forced many people to take another look at their finances and whether their retirement plans are on track.

0:07.9

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0:13.3

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For more information, visit www.charl-standly.com.uk today to schedule a free, no-obligation call to discuss your situation.

0:37.4

And remember, investment

0:38.7

involves risk. Hello and welcome to Coffee House Shots. I'm Lucy Dunn and today I'm

0:48.5

joined by James Heel and Michael Simmons in Liverpool at the Labour Party Conference. The Chancellor

0:53.3

Rachel Reeves has just

0:54.3

delivered her conference speech. James, you watched it. She's got a pretty tough job ahead of her, ahead of the budget. How is her performance? So it's been a pretty difficult 12 months for Rachel Reeves, of course. Last time we were here was just before the budget. And I think although it was a difficult conference, she obviously loves talking to the party faithful. Twelve months on, she's pretty politically exposed in Westminster and also exposed to the bomb markets in the city as well. But she gave a reasonably solid enough performance. It's obviously Brown, who was her favourite mentor. She had a picture of him on the wall at Oxford. And at times it did seem she'd had a bit of media training from Gordon Brown because he had this sort of grin that she does sometimes when she remembers to smile. But overall, it's a pretty solid and up performance, 45-minute speeches. And I think there were three sort of targets that she was identifying from this, which were the ghosts of Christmas, past, present and future. Past, of course, she talked about the Tories. That was used as sort of rhetorical device to talk how actually, to the party faithful, a lot of choices she's making are Labour choices, as opposed to Tory choices, rather than kind of going off the Conservatives, who, as she has said in herself in her

1:46.2

speech, were pretty irrelevant right now. So she went after them, first of all, the most interesting passage of the speech for me was midway through when she talked about those who were sort of warning that we could actually get past the sort of fiscal rules and how dangerous that was. That was a not-so-coded attack and response on Andy Burnham.

1:59.4

So he's the Ghost of Christmas present.

2:00.7

And finally, there was the Ghost of Christmas future, if you will,

2:03.0

which was Reform UK. And her talking about the different choices between the Labour Party, Labour government and what Reform UK have had done, for instance, on Russia, on the NHS. That was all fairly predictable. But for me, I think the most interesting thing was when she talked about the economy and fiscal stability as being sort of labour strengths and something they want to weaponise in the sort of run up to see the next election. And that is obviously something that traditionally the Tories were very good at, themes of economy and security. So that may be suggested that she thinks there's an opening there where basically the Tories are out of the picture. The mantle of fiscal stability has been thrown down and she thinks she can be the one to sort of take it up and lead on this over the next three, four years.

2:36.0

Michael, on the economics fund, what has the speech told us about what we can expect from

2:39.6

the autumn budget?

2:40.7

Well, James mentions Gordon Brown there. The chancellor in her speech reminded me of someone

2:45.7

else and that was Donald Trump because her message was security, security, security and putting the

2:52.9

British workers first.

2:54.9

She pointed to this idea that it really matters that ships are British.

2:59.9

It matters that steel is British forged steel.

3:03.3

It matters who makes things and where they're made, which is exactly the message that Donald Trump's base loves so much.

...

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