Shadow Treasury Minister James Wild has launched a scathing attack on Rachel Reeves, claiming she has "failed to deliver" on her promises of economic growth and stability.
Speaking to GB News, Wild criticised the Chancellor's economic management after nine months of Labour Government.
He said: "Inflation still remains above the target level of two per cent that the Government inherited and the Bank of England is forecasting that it may still go up, and that's due in part to the decisions that the Chancellor took last October."
"So, while it's welcomed, it has come down, it's still above the target level."
Wild was unequivocal about where responsibility lies for the current economic situation.
"The Chancellor promised to deliver growth and stability, and she's failed to deliver either," he stated.
Wild attributed this failure to the Chancellor's economic policies, saying "she imposed a £25billion jobs tax, she increased spending and massively increased borrowing."
"That's seen business confidence drop like a stone and growth stop stone dead," he claimed.
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Wild suggested the Chancellor should change course and listen to businesses who had warned about the consequences of her decisions.
He emphasised that the responsibility for the economic situation rests with Reeves and her policy choices.
"That's why she's having to deliver an emergency budget. This isn't just a routine update to Parliament, it's because she was in danger of missing her fiscal rules," he told GB News.
The Shadow Minister suggested the Chancellor had left herself little room for manoeuvre: "She didn't leave herself much contingency, much headroom.
"It all seems to be everyone else's fault than the Government's, who've now been in office for nine months."
Wild concluded by criticising the Government's approach to balancing the books.
"That's why she's having to come back today announcing rushed welfare cuts, cuts to the Civil Service to try and make the books balance," he said.
He concluded: "The OBR didn't legitimise the black hole figure that the Government has been using.
"That wasn't a responsible thing to do. We warned about that at the time, as did other commentators."
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Speaking to GB News, Wild criticised the Chancellor's economic management after nine months of Labour Government.
He said: "Inflation still remains above the target level of two per cent that the Government inherited and the Bank of England is forecasting that it may still go up, and that's due in part to the decisions that the Chancellor took last October."
"So, while it's welcomed, it has come down, it's still above the target level."
Wild was unequivocal about where responsibility lies for the current economic situation.
"The Chancellor promised to deliver growth and stability, and she's failed to deliver either," he stated.
Wild attributed this failure to the Chancellor's economic policies, saying "she imposed a £25billion jobs tax, she increased spending and massively increased borrowing."
"That's seen business confidence drop like a stone and growth stop stone dead," he claimed.
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Wild suggested the Chancellor should change course and listen to businesses who had warned about the consequences of her decisions.
He emphasised that the responsibility for the economic situation rests with Reeves and her policy choices.
"That's why she's having to deliver an emergency budget. This isn't just a routine update to Parliament, it's because she was in danger of missing her fiscal rules," he told GB News.
The Shadow Minister suggested the Chancellor had left herself little room for manoeuvre: "She didn't leave herself much contingency, much headroom.
"It all seems to be everyone else's fault than the Government's, who've now been in office for nine months."
Wild concluded by criticising the Government's approach to balancing the books.
"That's why she's having to come back today announcing rushed welfare cuts, cuts to the Civil Service to try and make the books balance," he said.
He concluded: "The OBR didn't legitimise the black hole figure that the Government has been using.
"That wasn't a responsible thing to do. We warned about that at the time, as did other commentators."
Find Out More...