Susanna Reid was pulled up on her question to Shadow chancellor Rachel Reeves by co-host Ed Balls.
Later today, it is expected that Ms Reeves will use her speech at the party's conference in Liverpool to set out the plan to create a state-owned investment fund to back projects which could generate wealth for the nation.
Ms Reeves' keynote speech at noon will be a chance for Labour to set out an alternative economic course after Chancellor Kwasi Kwarteng's mini-budget on Friday.
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The creation of the national wealth fund could be modelled on similar institutions in countries like Norway and Singapore, and its aim is to create long-term wealth for Britain.
Ahead of her speech, Ms Reeves appeared on Good Morning Britain, but things got off to an awkward start. Introducing Ms Reeves, Susanna said: "Rachel Reeves has accused the Conservatives of using casino economics and she joins us now, very good morning to you Rachel Reeves.
"Oh, it looks like you've had a cut of your own. Have you had your hair chopped in time for conference?"
Ms Reeves responded: "Sorry, I didn't catch that Susanna? Oh my hair cut, more responsible than the cuts we've seen from the Chancellor this week, I hope you approve."
Susanna's co-host said, Ed Balls said: "Good job I didn't ask that question." He later added: "Good job I didn’t say that about her hair, I’d be in total trouble."
Susanna defended her comments to Ed, saying you often notice a "radical" new hairstyle on a public figure. Playing devil's advocate, Ed asked: "Did you notice Kwasi Kwarteng's hair yesterday?" to which Susanna said no.
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