DAILY MAIL COMMENT: Reeves is driving the economy off a cliff
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In an interview at the weekend, the Chancellor could barely hide her contempt for Nigel Farage and his economic policies. Taking aim at the Reform UK leader, Rachel Reeves asked: ‘What’s his answer on the economy? How is he going to make working people better off? He hasn’t a clue.’.
Wherever you stand on the viability or otherwise of Mr Farage’s plans, isn’t this the pot calling the kettle black?. Labour came into office promising to power economic growth and no tax increases for ‘working people’. Instead, in just five months, Ms Reeves has hiked taxes by £40billion – including a rise in employers’ National Insurance that is hitting the very workers she claimed to want to protect – and killed off growth.
The Chancellor has the audacity to say she has ‘stabilised the economy’. Yet when the Tories left No 10, it was the fastest growing in the G7. Today, the picture is dismal. Last week the Bank of England downgraded its growth outlook for the last three months of this year from 0.3 per cent to zero. The economy is even in danger of shrinking.
The Chancellor has hiked taxes by £40billion – including a rise in employers’ National Insurance that is hitting the very workers she claimed to want to protect. The Chancellor has the audacity to say she has ‘stabilised the economy’. Yet when the Tories left No 10, it was the fastest growing in the G7.