The one thing Rachel Reeves must do to reignite the economy
The Chancellor's latest economic plan feels more like a gentle breeze than the rocket fuel the UK desperately needs.
Rachel Reeves needs to do something to kick-start the economy and she needs to do it fast. The equivalent of rocket fuel would do the trick.
But Ms Reeves' solution, which she cautiously articulated in a speech to City Grandees on Tuesday night, was more akin to rubbing two sticks together to start a fire. She is tinkering around the edges when bold action is needed.
We’ve heard it all before….“rolling back the regulation” and “cutting red tape”.
Yawn, yawn.
Ms Reeves claims her package of reforms will attract more investment to the UK, and among individual consumers, to help grow the economy.
But it’s nowhere near enough.
And we have the spectre of tax rises looming on the not-to-distant horizon as well as he desperately scrambles to clear up the mess of Labour’s first 12 months in government.
As she contemplates her Autumn Budget, expected in around three months time, pressure will mount on the Chancellor cutting taxes, not hiking them, and embolden businesses to boost confidence and stave off unemployment.
Otherwise it’ll be her job on the line.
