Dharshini David
Chief economics correspondent

Wealth creation, better growth, is Labour’s explicit intention.

So how does it weigh up? There are measures here – planning reform and green investment – that should bolster prospects.

But that public investment is a shadow of what, say, the US has pumped under President Biden

And the key challenge is to revive private investment – in skills, training, technology, better equipment and infrastructure such as building and transport.

That kind of investment has languished, in particular since the 2016 referendum. And many economists say that could turbo-boost our prospects by making us more efficient: productivity is an area where we limp behind some of our international peers.

While Labour has been courting business and trying to reassure them they’ll have a stable economic outlook to aid decisions, there’s little new here to move the dial.

Growth pledges are always uncertain, and unforeseen events can knock them off course. But current independent official forecasts already have the economy expanding in the years ahead.

The question is by how much would these plans enhance that?

Nick Triggle
Health Correspondent

At the heart of Labour’s plan to drive down waiting lists is the promise to create 40,000 extra appointments and operations a week – that works out at 2 million a year.

As a percentage rise, that’s pretty small – less than a 2% increase – as there are more than 140 million tests, scans, appointments and operations carried out every year.

But if it wins power and manages to do that it will buck the trend of recent years. Despite getting more money and employing more staff, getting the NHS to see more patients for planned treatment has proven difficult to achieve.

The 140 million-plus figure relates to 2022-23 – the latest year for which we have data – which is almost exactly the same as it was in 2019-2020 and 2018-19.

There are a number of reasons for this. Two of the biggest are rising demands for emergency care, which has seen more resources diverted away from planned care, and delayed discharges - where beds are occupied by patients who are medically fit to leave hospital but cannot, because of a lack of support in the community.

Owen Amos
Live reporter

Image source, PA Media

As we've reported, there are no "rabbits out of the hat" in Labour's manifesto - all the main policies had been announced already.

But here's a recap of some of the main pledges from the document that gives you a flavour of Labour's offer to the country (you can read the manifesto for yourself here, external):

• NHS: "Cut NHS waiting times with 40,000 more appointments each week, during evenings and weekends, paid for by cracking down on tax avoidance and non-dom loopholes"

• Immigration: "Launch a new Border Security Command with hundreds of new specialist investigators and use counter-terror powers to smash criminal boat gangs"
• Tax: "We will not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT" and "Labour will cap corporation tax at the current level of 25%, the lowest in the G7, for the entire Parliament"
• Energy: "Set up Great British Energy, a publicly-owned clean power company... paid for by a windfall tax on oil and gas giants"
• Antisocial behaviour: "Crack down on antisocial behaviour, with more neighbourhood police paid for by ending wasteful contracts, tough new penalties for offenders, and a new network of youth hubs"
• Education: "Recruit 6,500 new teachers in key subjects... paid for by ending tax breaks for private schools."
• Voting age: "We will increase the engagement of young people in our vibrant democracy, by giving 16- and 17-year-olds the right to vote in all elections"
• Parents: "We will support families with children by introducing free breakfast clubs in every primary school"
• House of Lords: "Legislation to remove the right of hereditary peers to sit and vote in the House of Lords... Labour will also introduce a mandatory retirement age [from the House of Lords, set at 80]"

Emily Atkinson
Live reporter

And with that, Keir Starmer's manifesto launch is over - while he's been speaking our team of correspondents has been picking over the contents of the manifesto itself.

We'll bring you the key pledges in a moment, and then analysis from our correspondents.

The final question comes from Pippa Crerar from the Guardian, who says trust in British politics has never been lower and asks if he will set up a new ethics and integrity commission in the first 100 days if he takes office.

Starmer says he can do better than the Tories on this, saying his party will get on with changing ethical codes "straight away", adding his party will be judged on its actions as well as its promises.

Next up, the Daily Mail asks whether Labour leader Keir Starmer "really thought" Jeremy Corbyn would be a great prime minister when he was leader of the party.

Starmer reiterates what he said at a Sky News event last night - that he didn’t think the party would win the 2019 election under Corbyn (see clip below).

It's worth saying Starmer campaigned for Corbyn when he was Labour leader in the 2019 election, and served in his shadow cabinet.

Next, a journalist from the Telegraph asks if there will be more tax rises.

Starmer says there are no tax rises beyond those already announced: he says he wants to "bare down" on the non-dom status and make sure the "super rich" pay their "fair share".

He adds that Labour also wants to make sure oil and gas companies pay a "fair tax" on their profits, that private equity loopholes are changed.

Starmer is now asked by The Sun what how he plans to deal with people who arrive in the UK "illegally".

He calls the current situation "hopeless", with those already here and in the system not being processed.

He says we have to fix the "loss of control" of the borders and he plans to do so with the proposed new Border Security Command who will have new powers and resources to "smash the gangs".

Steady as it goes - Labour pitches a 'sober offer' to voterspublished at 12:09 British Summer Time 13 June

12:09 BST 13 June

Faisal Islam
Economics editor

No rabbit in the hat and no surprise.

Labour’s manifesto is a relatively modest change in tax and spend. There are £8bn of revenue raisers, already announced.

These are overwhelmingly the changes to non-dom tax arrangements and tax avoidance, and applying VAT to private schools, as well as a windfall tax on big energy.

Labour has updated the costings here to account for higher inflation. This will be spent on green investment, more NHS operations, mental health staff, expert teachers, and a series of smaller measures including breakfast clubs at primary schools. The total spend in that is just under £5bn.

There is an extra £4bn plus for the green prosperity plan, to be spent on GB Energy, a National Wealth Fund and insulation plans. That will be funded partly by extra borrowing, within Labour’s fiscal rules.

This is steady as it goes.

Labour says it is a sober offer that does not seek to compete on Conservative tax cuts.

The calculation here is that the public will not believe that tax cuts are credible, and will prefer a promise of stability, in politics and economics.

Image source, Reuters

Next, Starmer responds to a question from Christopher Hope from GB News on immigration.

Starmer says immigration does need to be lower, sayings it's pretty much at its highest on record, and accuses the Tories of having "lost control" on the issue.

He says that's happened because the country doesn't have the skills it needs, and says his party will not use immigration as a growth lever and will instead focus on skills and wealth creation.

ITV's Robert Peston is next, and he puts it to Starmer that it's a "bogus claim" that growth can rise significantly by next year without spending cuts.

"We are not going to return to austerity," Starmer says.

He points to some of the manifesto pledges we heard earlier, which he says are an "immediate injection" that will "turn around growth in this country".

As a reminder, you can watch along live by pressing Play at the top of the page.

Next, Sky’s Beth Rigby says there isn’t a "single new policy" in the Labour manifesto, while Sunak “threw the kitchen sink” at his version.

"Is this a Captain Caution manifesto designed to protect your poll lead?" she asks.

Starmer says no, adding that he won't do what Sunak did and offer things they can't fund.

“I'm running as a candidate to be prime minister, not a candidate to run a circus,” he says, which is met with cheers from the audience.

Image source, Reuters

First up to ask a question, is the BBC's political editor Chris Mason.

Starmer is asked to speak directly to the voters who may fear that "you might only really say what you're going to do after any victory rather than before".

"Let me address them directly," he replies, saying that this manifesto is about change, and a "total rejection of the cynicism, the idea that we can't do any better".

After 14 years of this, our manifesto is for hope, growth, wealth creation, Starmer says.

You can watch a short clip of the Labour leader's response to Chris Mason's question here:

Starmer has now finished his speech and is starting to take questions from journalists.

We'll continue to bring you the latest lines from the manifesto launch event.

Image source, PA Media

Starmer concludes his speech listing things the party wants to offer young people - including investments in mental health, physical health, and dental health, as well as the power of the vote and a new Race Equality Act.

He adds that the change on offer on 4 July is a country "better for your children".

He receives a standing ovation before moving to questions - stay tuned.

Continuing to speak about growth, Starmer runs through pledges to invest in renewable energy across Britain, as well as the steel industry and broader jobs creation.

He says voters have the power to chose a different path for government, and quickly lists off further pledges to invest in the NHS and plans to "take on" the non-dom tax status and tax avoiders.

Starmer says "if we grew the economy anything like the last Labour government" there would be higher investment in public services.

"This changed Labour Party has a plan for growth," he says. "We are pro-business and pro-worker. The party of wealth creation."

Starmer refers to his five national missions: higher growth, safer streets, cleaner energy, more opportunity, and the NHS back on its feet.

He says they're at the core of this manifesto.

The current situation leaves too many people feeling insecure about their future, Starmer says.

Wealth creation is our core business, he adds, and that's why it is our first national mission in government.

Henry Zeffman
Chief political correspondent

There’s not a lot new in this manifesto — something Keir Starmer just acknowledged head on.

He said he knew people would ask him: “Where’s the surprise? Where’s the rabbit out of the hat?”

Starmer then argued that his manifesto was in line with the policies he has been espousing for much of his leadership because “Britain needs stability, not more chaos.”

Starmer is continuing to emphasise stability, saying there will be no "rabbit out of the hat" moment.

He adds that if you want politics "as pantomime I hear Clacton is nice this time of year" - that's a swipe at Nigel Farage who is standing for Reform UK there.

You can see the full list of candidates standing in that constituency - and all others including your own - here.