With growth stalling, inflation rising, and fiscal headroom gone, Chancellor Reeves must resist the urge to raise taxes and instead make government leaner, smarter and more efficient to keep the economy from sliding into darkness, says Brandon Lewis

Winter in the UK is a normally sunless affair. The one we’re headed for will be gloomy indeed.

If change does not come quickly, our economy and the businesses who help make it turn are at risk of being knocked into darkness. Inflation is creeping upwards, at double the Bank of England’s two per cent target, while government borrowing costs remain punishing as bond yields hit a 27-year high this past August. Business sentiment is at rock bottom, reaching the lowest level since late 2022 after a year in constant decline. In the face of this stormy backdrop Chancellor Rachel Reeves’ fiscal headroom of £10bn has almost certainly been wiped out for the second time in a year.

While building back its headroom is a priority for Labour, it’s been debated........

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