With the budget a month away, chancellor gives little indication in conference speech of where money will come from to reindustrialise Britain

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John Healey cheered the Labour faithful with his first conference speech as chancellor, offering an upbeat vision of a reindustrialised Britain with fresh opportunities for young people, but he gave little sense of how he intends to pay for Andy Burnham’s radical plans.

Healey’s budget next month is widely seen both inside and outside Labour as the moment when the prime minister’s radical rhetoric about ditching 40 years of neoliberal orthodoxy risks crashing into fiscal reality.

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