Politics latest: Chancellor Rachel Reeves expected to back new runway at Heathrow in major speech to kickstart growth in UK’s flagging economy

Labor -Donor and Green Energy Baas Dale Vince have said that the reported approval of the Chancellor of a third runway in Heathrow would be 'the wrong type of growth'.

He told BBC Radio 4's Today's Program: 'I think it's a mistake. I actually think it is an illusion of growth.

'It takes 10 years to build a runway, may cost £ 50 billion. It will create the wrong kind of growth – we will export tourist money abroad, create a larger imbalance than we already have, and it is at the expense of our carbon -saving efforts. '

Mr Vince, who donated £ 5 million to work in the run -up to the general elections, said: “Much of what Rachel Reeves did is good” but added “you don't get everything you want in life … from a political party or government. “

When asked if the reported plans meant that the struggle for a green agenda was lost, he added: 'I think it is the wrong kind of growth. If you look at the net zero economy, it grew by 9% in 2023 compared to point 1% for the general economy, so we can have growth, but we should not try to get it in these ways that increase our carbon emissions.

“We need energy, transport and food carbon arms, and we are currently on our way to do energy, and we don't do that with this Heathrow extension, which is a big mistake.”

The speech of the Chancellor on Wednesday will generate a 'feeling of excitement, momentum, dynamic', but 'take time' infrastructure projects, a minister said.

Business secretary Jonathan Reynolds said BBC Breakfast: 'I think they will feel a difference this year because of the revisions of the growth we have seen.

'But what the decisions you will see today will mean is that we will generate that feeling of excitement, momentum, dynamics, people will be clear that if you do not invest in the UK, you will miss it.

'Large infrastructure projects take time to deliver, but the feeling of things that happen in the UK, of determination to deliver the British people, that can be generated by what you will hear today.

'There are some positive signs, but we want to continue. There is no self -complacency in this government. '

Rachel Reeves will today reveal a 'Thatcher-style' emergency growth package, because Labor desperately tries to breathe new life into the economy.

The Chancellor is to support a series of projects designed to start activities in a keynote speech this morning.

The expansion of the airport -including support for the long -open third runway in Heathrow -and creating 'Europe's Silicon Valley' in the Oxford -Cambridge Gang are among the initiatives.

In the meantime, Keir Starmer called on the ride of Tory Doyenne in the 1980s to deregulate the city while promising to lower the bureaucracy – and said it could have a similar impact on the fortunes of the country.

However, critics have pronounced extreme skepticism about the sudden focus on growth measures – with Labor's enormous budget tax attack and revision of employee rights the fault of crushing trust.

Today it is a busy day in the political world – as well as the questions of the weekly prime ministers, who will see Sir Keir Starmer interviewed by the leader of the opposition and members of the house, Rachel Reeves is also set to take central stage.

The Chancellor will give a big speech this morning about the growth of the UK.

The thought topics that are discussed include the expansion of Heathrow, trade updates and a possible announcement about Freeports.

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