Addressing the Labour Party Conference in Liverpool, the Shadow Chancellor said that she would introduce a new National Economic Council.
This would enable trade unions and industry leaders to help Labour to form policy which is something that has not been seen since the 1970s.
Rachel Reeves said her party would also raise the minimum wage which “reflects the real cost of living” that would be a “genuine living wage.”
She also told delegates that the Labour Party would introduce a National Wealth Fund which will then enable the government to invest in green projects which would also benefit the public.
Reeves criticised the Tories over their latest economic policies, she said, “On Friday, the Chancellor had an opportunity to set out a serious response to the cost-of-living crisis.
“And he failed.
“What did we get instead? A tax cut for the wealthiest one percent. Increased bankers’ bonuses.”
Addressing the new National Economic Council, Reeves told the conference, “And more than £50 billion piled onto the national debt every single year, because of their reckless decision to put all the costs onto borrowing.
“They didn’t just break their own fiscal rules for the tenth time in twelve years.
“In one go, they borrowed more than in any budget since 1972, with inflation already high, and interest rates already rising.”
She added, “I dare any tory MP to tell a nurse or care worker to their face that what this country needs is bigger bonuses for bankers.”
She then went on to reassure voters and Reeves promised “economic responsibility & social justice.”
She added, “Labour will not waver in our commitment to fiscal responsibility.
“Every policy & every line in our manifesto will be carefully costed & fully funded.”