The UK's opposition leader has said that the ruling Tories "crashed the pound" and has vowed to bring "British power to the British people".
Labour leader Sir Keir Starmer began his speech to the party's conference in Liverpool on Tuesday by hailing the public outpouring of grief over the death of Queen Elizabeth II.
Speaking in front of a union jack backdrop, he argued that the party should "build a new Britain" as "fairer, greener, more dynamic".
He took the opportunity to blame the Conservative government of new Prime Minister Liz Truss for the slump in the sterling exchange rate to the US dollar — also suffered by the euro — since Chancellor of the Exchequer Kwasi Kwarteng unveiled his tax-cutting mini-budget on Friday.
"They’ve crashed the pound — and for what? Higher interest rates. Higher inflation. Higher borrowing. And for what?" Starmer repeated. "Not for you. Not for working people. For tax cuts for the richest one per cent in our society."
"Don’t forget. Don’t forgive. The only way forward is to stop this – with a Labour government," he declared.
He also pledged that a future Labour government would continue the Tory policy of cutting fossil-fuel use — while accusing them of blocking renewable energy schemes like on-shore wind farms.
"The future wealth of this country is in our air, in our seas, in our skies. Britain should harness that wealth and share it with all. British power to the British people."
While conceding that he could not "pretend the awful conflict in Ukraine is not the immediate spark of the cost-of-living crisis," the Labour leader vowed to oppose what he called Russian "imperialism" and "stand alongside Ukraine," — voicing the slogan "Slava Ukraini!" or glory to the Ukraine.
Labour has supported the government's sanctions on Russia and embargoes on energy imports from the Eurasian giant since the launch of the special military operation in the Ukraine — which have compounded the inflationary effects of the COVID-19 lockdown to push price rises into double percentage points.
Starmer has had an easier time at conference than last year's gathering in Brighton, when he battled with the big affiliated trade unions over changes to the party rulebook.
On Monday, delegates voted against a motion to allow his predecessor Jeremy Corbyn — who Starmer ordered suspended from the party in October 2020 — to be re-selected as the Labour candidate in his Islington North seat.