Sir Keir Starmer will on Tuesday depict Labour as the party of “sound money” as he lays out his Blairite vision for the future of the UK.

In his keynote speech to the Labour conference in Liverpool, Sir Keir will declare Labour the party of fiscal responsibility, in contrast to the Tories whom he will blame for the turmoil on the markets.

In a direct echo of Tony Blair, he will insist that Labour is once again the “political wing of the British people” – a phrase used in the election-winning manifesto of 1997.

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