UK PM Johnson: We are going to be high wage, high skill and low tax economy

While speaking at the Conservative Party Conference on Wednesday, British Prime Minister Boris Johnson said that they are going to deal with the long-term structural weakness in the economy, per Reuters.

Additional takeaways

"We are embarking on a chance of direction in the UK economy."

"We should not use immigration as an excuse for the failure to invest."

"We are going to be high wage, high skill and low tax economy."

"Regional inequality is holding this country back."

Market reaction

These comments don't seem to be having a positive impact on market sentiment. As of writing, the UK's FTSE 100 Index was down 1.8% on the day at 6,950.