A competent Chancellor would break Britain’s high tax, high spend doom loop
Economic alarm bells are blaring, but Rachel Reeves has stuck her fingers in her ears, says shadow chancellor Mel Stride
Britain’s economy is on the brink. We’re set for the highest inflation in the G7; unemployment is at a four-year high; and GDP growth is pitiful – in July it was literally zero.
Meanwhile, borrowing is spiraling out of control, exceeding forecasts by a staggering £11.4bn between April and August. It all makes for an incredibly depressing picture.
And thanks to Keir Starmer and Rachel Reeves, it’s only going to get worse. This week the OECD confirmed what businesses have been saying from the start: Labour’s tax hikes are a drag anchor on growth, which will slow even further in 2026.
And........
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