The "concerns" driving the rise of Reform and Restore cannot be sated by Labour, not directly, Labour sees these "concerns" as little more than bigotry, a byproduct of low growth and austerity and all of it stoked by bad faith actors both foreign and domestic. Every time Labour throws a bone in that direction they are derided as too little too late by the right and castigated by the left as selling out to the bigots.
Labour has only one hand to play, growth and prosperity, they see this as the salve for many of the country's ills, they're betting this will pull the rug from under the right and expose the fantasy economics of the left, primarily the Greens.
Labour has been dealt a bad hand and circumstances, many beyond their control, have conspired to make things worse, the truth is they're struggling to deliver and the clock is ticking.