Healey promises 'new age of industrialisation' in first conference speech as Chancellor

John Healey has used his first speech to the Labour Party conference as Chancellor to promise a “new age of industrialisation”, unveiling £100m for regional apprenticeships and £6bn of naval infrastructure.

Addressing delegates in Liverpool on Monday, Healey said growth was “the only long term answer”, adding: “Good growth in every postcode, a dual mission from the treasury and Number 10 north.”

The £100m will fund new regional apprenticeship schemes aimed at reversing a tough jobs market for young people, with more than 750,000 people aged 16-24 currently unemployed. The £6bn naval package includes three floating docks for submarines at Faslane in Scotland and a new marine research vessel to be delivered by British companies, as part of a push to direct public procurement to domestic firms. “We will use everything we can to create good jobs, and industrialise Britain,” Healey said.

He paid tribute to his predecessor Rachel Reeves, saying she “brought to this country financial discipline” and “delivered two Labour budgets that mean we’re cutting NHS waiting lists and we’re lifting half a million children out of poverty”, and noted she will “always be recognised as this country’s first-ever female Chancellor”. He also praised former prime minister Keir Starmer and hailed Andy Burnham as the “first ever Co-operative Prime Minister”.

Healey attacked Reform UK, describing Nigel Farage as “Liz Truss with a bitcoin account”, and used a Sunday Times interview to dampen budget speculation ahead of his first budget on 28 October: “We’ve seen too much speculation in previous years and it isn’t just a matter of interest for the media. This has real-world effects.”

Sources

• Place Yorkshire — Healey says growth is ‘only answer’ in conference speech — https://www.placeyorkshire.co.uk/healey-says-growth-is-only-answer-in-conference-speech/
• LabourList — John Healey addresses party conference for first time as Chancellor: his speech in full — https://labourlist.org/2026/09/john-healey-addresses-party-conference-for-first-time-as-chancellor-his-speech-in-full/
• newswav — Labour conference live: Healey’s speech — https://newswav.com/article/labour-conference-live-cutting-benefits-is-moral-duty-says-healey-in-warnin-A2609_LD29Ql
• The Times — John Healey: ‘Gordon Brown emails me in block caps at night’ — https://www.thetimes.com/uk/politics/article/john-healey-we-want-to-embrace-business-and-billionaires-bc8wlgddg