{"id":258607,"date":"2025-07-12T09:48:12","date_gmt":"2025-07-12T09:48:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/258607\/"},"modified":"2025-07-12T09:48:12","modified_gmt":"2025-07-12T09:48:12","slug":"rachel-reeves-is-driving-a-runaway-train-and-running-out-of-track-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/258607\/","title":{"rendered":"Rachel Reeves is driving a runaway train \u2013 and running out of track | Personal Finance | Finance"},"content":{"rendered":"

The warning signs are everywhere. Britain\u2019s economy shrank again in May<\/a>, following a drop in April, with retail sales collapsing as cash-strapped shoppers stay home. Gilt yields are climbing to financial crisis levels, the pound is sliding, and markets are betting on emergency interest rate<\/a> cuts as the Bank of England battles to save the economy.<\/p>\n

How does Reeves respond? By robotically insisting she\u2019s \u201cfixed the foundations\u201d, while they crumble like a rickety wooden railway bridge. The country feels broken. Petty crime runs rampant<\/a>, while the police are nowhere to be seen. Illegal immigration is surging and PM Keir Starmer has caved into France over immigrant returns<\/a>, just like he’s caved into every foreign government he’s dealt with, starting with the mighty Chagos islands<\/a>.<\/p>\n

Militant junior “resident” doctors are preparing yet another crippling strike<\/a>, demanding a 29% pay rise on top of last year\u2019s 22%. That will swallow up much of the extra cash Reeves has thrown at the NHS.<\/p>\n

Britain is now a land of strikes, surging welfare, and collapsing public trust.<\/p>\n

Millionaires are fleeing in droves and the tax base is shrinking. As public services fail, anger is building. Debt is soaring and the interest bill costs us \u00a39billion a month. Someone needs to take charge. But who, exactly, is in control?<\/p>\n

It certainly isn\u2019t Rachel Reeves<\/a>.<\/p>\n

Our hapless Chancellor is pushing buttons and pulling levers, but always the wrong ones. Instead of getting the train back on track, she\u2019s accelerating the decline.<\/p>\n

Labour\u2019s national insurance hikes have destroyed hundreds of thousands of jobs. Now the National Trust has blamed the policy for axing 550 roles.<\/p>\n

Reeves has presided over one U-turn after another. On the winter fuel payment<\/a>, disability benefit cuts, and now her absurd plan to slash the Cash ISA allowance.<\/p>\n

Now she’s going to hit us for at least \u00a320billion of new taxes in her autumn Budget<\/a>, despite promising she wouldn’t.<\/p>\n

She should stamp out all talk of a wealth tax, as should Keir Starmer<\/a>. Neither have. Instead, we face months of damaging speculation, driving yet more wealth out of the country.<\/p>\n

That\u2019s on top of Labour\u2019s inheritance tax raid on non-doms, which has already triggered an exodus of high earners \u2013 leaving ordinary taxpayers to plug the gap.<\/p>\n

Why would anyone with money want to stay here, as the Labour left wages class war and Angela Rayner<\/a> drafts rival tax policies from the wings?<\/p>\n

The Deputy PM is demanding fresh crackdowns on landlords, employers and the better-off, while pushing through a workers\u2019 rights bill that hands even more power to the unions. And all Reeved does in response to all this is spout yet more nonsense<\/a>.<\/p>\n

The Chancellor is paralysed at the controls, too scared to touch anything in case it blows up in her face. The buffers are approaching fast.<\/p>\n

Meanwhile, the global economy is slowing, just as investors drive stock prices to record highs. Many analysts now expect a crash in August, a jolt that could send Britain over the edge.<\/p>\n

Like the darkest days of the 1970s, we face industrial chaos, tax flight and a hostile environment for business. Labour has done it again. But this time, there\u2019s no Margaret Thatcher waiting in the wings.<\/p>\n

Rachel Reeves<\/a> is still in the cab but the brakes have failed, the controls aren\u2019t responding, and the warning lights are flashing red.<\/p>\n

Everything she touches only makes things worse. There\u2019s only one place this runaway train is going to end up. And it’ll take us all with it.<\/p>\n","protected":false},"excerpt":{"rendered":"The warning signs are everywhere. Britain\u2019s economy shrank again in May, following a drop in April, with retail…\n","protected":false},"author":2,"featured_media":258608,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[51,1700,528,99177,99178,619,16,10051,15],"class_list":{"0":"post-258607","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-economy","10":"tag-labour-party","11":"tag-labour-policies","12":"tag-public-trust-collapse","13":"tag-rachel-reeves","14":"tag-uk","15":"tag-uk-economy","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114839637544995244","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/258607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=258607"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/258607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/258608"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=258607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=258607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=258607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}