Rachel Reeves says the Government continues to recover funds from inefficient contracts awarded during the pandemic by the former administration.

The Chancellor has been outlining what she views as key shortcomings of the previous administration, citing Liz Truss’s mini-budget, the “botched Brexit deal,” and describing it as “the worst parliament on record for living standards”.

Ms Reeves says nearly £400million has already been reclaimed from pandemic-related fraud that occurred under the Conservative government.

She notes that recovery efforts are ongoing, and the current administration is introducing “additional new powers to investigate and recover more money from fraudsters”.

To enforce these powers, Reeves announces the formation of a specialist team: “I can tell you today that to deploy those new powers, we are recruiting a new hit squad to investigate and recover all the money that is owed to the British people.”

Rachel Reeves says the government continues to recover funds from inefficient contracts awarded during the pandemic by the former administration

But she says the “most enduring consequences of the Conservatives’ time in office” is “their economic failure”.

Reeves explains that Labour’s plan for economic renewal will be grounded in “stability, to keep taxes, inflation and interest rates as low as possible.

"Economic reform, to unlock the contribution of businesses and working people, and investment, in every part of Britain.”

Rachel Reeves said Labour would continue to fight to reclaim misspent money on PPE contracts and Covid “corruption”, as she told the party’s conference “We want our money back”.

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