End of Trickle-Down Economics Announced by British Finance Minister

British finance minister Rachel Reeves declared the end of 'trickle-down, trickle-out economics' during her speech at the Labour Party conference. She emphasized a new industrial strategy to come next month, prioritizing government intervention over laissez-faire approaches in key sectors.

British finance minister Rachel Reeves declared on Monday that the era of 'trickle-down, trickle-out economics' was over, during her speech at the Labour Party conference.

'We are calling time on the ideas of the past; calling time on the days when government stood back, left crucial sectors to fend for themselves, and turned a blind eye to where things are made and who makes them,' Reeves stated, as she unveiled plans to release a new industrial strategy next month.

'The era of trickle-down, trickle-out economics is over,' she reiterated.

(With inputs from agencies.)