Britain’s Treasury chief tries to turn on the economic optimism after months of gloomy talk

Associated Press

LIVERPOOL, England (AP) — British Treasury chief Rachel Reeves has promised not to return to an era of public spending cuts despite the dire state of the U.K.’s national finances. She tried to inject a dose of optimism after weeks of negative headlines for the country’s new Labour Party government. Reeves used a speech to Labour’s annual conference on Monday to try and reassure party members that her first budget next month won’t be all doom and gloom. Reeves promised “there will be no return to austerity” and said the government will invest in industry, infrastructure and green energy to reverse declines in “growth, productivity and family incomes.” The center-left party is gathering in Liverpool after returning to power in Britain’s July 4 election.