Sam Alvis, associate director at IPPR, advises Keir Starmer's Labour party on its new 10-year industrial strategy ('securonomics'), urging them to learn from Joe Biden's economic policies. Biden's multi-billion dollar investments boosted the US economy and wages, but Democrats still lost the 2024 election, partly because long-term reforms didn't immediately address public concerns about everyday prices. Alvis suggests Labour needs short-term economic improvements for citizens (e.g., addressing energy prices, childcare costs) alongside long-term industrial policy, and to look beyond US examples to countries like Spain and Australia that combined long-term green transitions with immediate cost-of-living relief.
As Starmer unveils his 10-year plan, here’s my advice: don’t fall into the Joe Biden trap
Economic policyEconomicsEconomic recoveryEconomic growth (GDP)Industrial policyLabourBiden administrationUKRachel Reeves
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TL;DR: Key points with love ❤️Sam Alvis, associate director at IPPR, advises Keir Starmer's Labour party on its new 10-year industrial strategy ('securonomics'), urging them to learn from Joe Biden's economic policies. Biden's multi-billion dollar investments boosted the US economy and wages, but Democrats still lost the 2024 election, partly because long-term reforms didn't immediately address public concerns about everyday prices. Alvis suggests Labour needs short-term economic improvements for citizens (e.g., addressing energy prices, childcare costs) alongside long-term industrial policy, and to look beyond US examples to countries like Spain and Australia that combined long-term green transitions with immediate cost-of-living relief.
Trending- 1 Long ago: Parallels between Bill Clinton and Tony Blair's 'third way'
- 2 Last year: Keir Starmer's Labour party looks to Joe Biden's Democrats
- 3 2024: Democrats lose US election despite Biden's economic success
- 4 Today: Labour's industrial strategy released
- 5 Recently: IPPR conducts polling on public economic priorities
- Labour's industrial strategy aims for long-term growth
- Risk of Labour losing public support if short-term economic issues are not addressed
- Potential for policy adjustments based on lessons from US and other countries
What: Sam Alvis advises Keir Starmer's Labour party on its new 10-year industrial strategy, drawing lessons from Joe Biden's economic policies and their impact on the 2024 US election.
When: Article published today (Monday), discussing Labour's industrial strategy released today.
Where: Westminster, UK (focus on British politics); United States (Biden's policies); Spain, Australia (alternative examples).
Why: To ensure Labour's long-term industrial strategy ('securonomics') is successful and avoids the pitfalls seen with Biden's economic approach, which failed to secure a Democratic victory despite positive economic indicators.
How: By learning two key lessons: long-term reform is slow and won't immediately win votes, and governments need to provide short-term economic improvements to people's lives alongside long-term policies.