Rachel Reeves and Keir Starmer clearly assume we’re silly. They reckon we’ll swallow any outdated nonsense.
Keir Starmer and Rachel Reeves aren’t being sq. with us (Picture: Getty)
They lied by means of their enamel in the course of the election, claiming they’d solely hike taxes by £8.5billion, none of which might have an effect on “working folks”. In 18 months, they’ve hit us for £66billion, and there’s virtually definitely extra to return. They misled the Waspi girls, farmers, publicans and small companies. They spun tales in regards to the winter gasoline fee, the two-child cap and far more moreover. They usually will not cease.
In fact, all politicians stretch the reality. However an excellent greater downside is that these two are incompetent too, and will by no means have been allowed wherever close to the UK financial system. This morning we bought a reminder of each traits – being incompetent, and fibbing about it. To our faces.
First, we realized this morning that the financial system continues to be flatlining on their watch, confirming their incompetence. Second, we noticed their sheer dishonesty of their pathetic makes an attempt to faux they’re doing a fantastic job.
The UK financial system grew a feeble 0.1% between October and December final 12 months. Every time Keir Starmer and Rachel Reeves open their mouths, they bang on about “restoring stability”. I suppose they’re proper in a single respect. The financial system is at a standstill. That’s stability of kinds.
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ONS shares development figures for remaining months of 2025
Slightly than face this, Reeves went into denial mode. Sure, politicians attempt to spin their failures in addition to their successes, however she’s significantly inept at it.
She instantly banged on in regards to the UK seeing six rate of interest cuts for the reason that election. However she doesn’t make that call. It has nothing to do together with her. That’s all the way down to the Financial institution of England, and charges might have fallen a lot additional had Reeves not stoked inflation together with her tax-and-spend Budgets. In Europe, rates of interest are all the way down to 2%. Right here base charge stands at 3.75%. Spot the distinction.
Reeves additionally claimed inflation is falling quicker than predicted. That’s nonsense. It truly rose in December to three.4%. Within the eurozone, inflation fell to 1.7% in January, half ours. Labour insurance policies are the primary cause.
The Chancellor then declared she’s “constructing a stronger and safer financial system, chopping the price of residing, chopping the nationwide debt and creating the situations for development and funding in each a part of the nation”.
There’s only one downside with that sentence. Virtually each a part of it’s unfaithful. None of these issues are occurring. And her boss is simply as unhealthy.
Right this moment, Starmer tweeted: “Right this moment’s GDP figures present our financial system is rising. Meaning more cash in your again pocket.”
Which is garbage. First, development of 0.1% is barely development in any respect. It’s a rounding error. No one feels that of their pocket.
Second, that determine refers to whole GDP. If Starmer is speaking about folks’s pockets individually, he ought to have a look at GDP per individual. And that’s shrinking, because the inhabitants continues to rise by means of immigration.
Actual GDP per head, which measures output per individual, fell by 0.1% in each of the final two quarters of 2025. So he is telling porkies once more.
Whereas Reeves and Starmer lecture us about “development”, we’re getting poorer on a per-person foundation. They’re not simply mismanaging the financial system, however making an attempt to gaslight the nation about it.
Killing development is unhealthy sufficient. Pretending it’s booming, and anticipating us to clap alongside, is the ultimate insult.
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