LABOUR must urgently end short-termism and deliver an investment boost and a long-term plan for economic renewal, the TUC says in its Budget submission today.

The union federation called on the new government to give an Industrial Strategy Council the remit and resources to provide oversight and accountability on an “ambitious industrial strategy, acting as a critical friend of government.”

This, alongside proposals for a closer trading relationship with the EU, based on mutual high standards of employment rights and environmental protections, would provide “much-needed certainty for workers, businesses and investors,” it said.