Mel Stride, the Shadow Chancellor, criticized Rachel Reeves' performance, describing it as a disaster for the economy. He refrained from directly comparing her to Kwasi Kwarteng but emphasized that both Labour's policies and excessive borrowing have harmed the economy. Stride highlighted that Labour has implemented high taxes that impair business growth and stoked inflation through extensive borrowing. He noted the importance of maintaining market confidence and expressed that mistakes were made during Kwarteng's tenure, but that doesn't negate the need for low taxes and a smaller state.
Rachel Reeves and the Labour Party have been disastrous for our country, particularly with their high taxes and borrowing that stoked inflation.
We have to do it in a way which the markets have confidence in the actions that we're taking.
That mini budget led to problems in the bond markets and so on, though that’s not saying we don’t want a lower tax economy.
Labour is putting taxes up left, right and centre, particularly on our businesses, which has killed growth.
Collection
[
|
...
]