Chancellor backs Old Trafford redevelopment as part of growth plan
Rachel Reeves has announced a raft of policies in a major speech
The Chancellor has promised to back the redevelopment of Old Trafford as part of major plans for economic growth in the UK.
Rachel Reeves has promised ministers will work with local leaders, like Greater Manchester mayor Andy Burnham, to deliver on the promise of new houses and businesses.
Manchester United is eager to create a new venue by either redeveloping its current stadium to increase capacity to 87,000, or build a new ground which could hold 100,000 fans.
The club has said it will decide on its preferred option "ahead of the summer".
The Chancellor said Britain has "fundamental strengths" but has been "held back" and accepted "stagnation" in her address in Oxfordshire on Wednesday.
Reeves told an audience: "Growth isn't simply about lines on a graph, it is about the pounds in people's pockets, the vibrancy of our high streets and the thriving businesses that create wealth, jobs and new opportunities for us, for our children, and grandchildren.
"We will have succeeded in our mission when working people are better-off."
Ms Reeves used the speech to claim the so-called "Oxford-Cambridge growth corridor" has "the potential to be Europe's Silicon Valley" and offers "huge economic potential for our nation's growth prospects".
Centred around growth, it also included support for the expansion of Heathrow Airport - an issue which some Cabinet ministers have opposed in the past.
Shadow chancellor Mel Stride has claimed that the "biggest barriers to growth" are Prime Minister Sir Keir Starmer, Ms Reeves and their financial plans.
Ahead of the speech on Wednesday, Mr Stride said: "Hastily cobbled together announcements of growth in the 2030s will do nothing to help the businesses cutting jobs right now because of Labour's punishing jobs tax, the companies being crushed under their barrage of new regulations, or the farmers facing bankruptcy over the cruel family farm tax."
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