The opposition Labour Party in Britain is set to announce its commitment to reinvigorating the construction industry and stimulating economic growth if it comes into power.

The party believes that smoothing the path for new infrastructure projects is essential for the country's prosperity.

In a speech at the party's annual conference in Liverpool, Rachel Reeves, the finance policy chief, will present plans aimed at bolstering economic growth. This is a crucial aspect of Labour's strategy to improve the financing of Britain's struggling public services.

Reeves will also take a direct swipe at the ruling Conservative Party (Tories), who halted a high-speed rail project after £2.3 billion had already been invested. She will argue that the primary impediment to construction in Britain is the government's planning regulations.

With Labour enjoying a significant lead in opinion polls ahead of the upcoming election next year, the party has both attracted and been courted by businesses. They have expanded capacity at their "business day" event, which still maintains a waiting list of eager participants.

Reeves will say, "If we want to encourage investment, restore economic stability, and reignite growth, then we must get Britain building again," according to excerpts from her speech.

"If the Tories won't build, if the Tories can't build, then we will. We will confront the obstacles posed by our outdated planning system head-on."

She will outline Labour's plans to streamline the construction of crucial infrastructure related to energy, transportation, and technology. This will involve expediting the planning process within the first six months of taking office, fast-tracking planning for key growth areas, and offering incentives to local communities.

Labour's pledge to restore business investment as a percentage of gross domestic product to levels seen during the last Labour government from 1997 to 2010. This move is expected to inject an additional £50 billion into the British economy annually by the end of the decade, equivalent to £1,700 per household.

Labour has worked to shed its reputation as a profligate party, committing to a set of "non-negotiable" fiscal rules that prevent borrowing for day-to-day spending. They also aim to present a budget every year by the end of November.

After several months of presenting their agenda to financiers and businesses of all sizes across the country, their charm offensive has yielded results.

Prominent business leaders, including CEOs of companies like Britain's energy provider Octopus and Microsoft, will attend Labour's business day, a week after the Conservatives held their own event, which received mixed reviews.

Jonathan Reynolds, Labour's business policy chief, will declare at the event, "Labour is now the undisputed party of business." Photo by Rwendland, Wikimedia commons.