Rachel Reeves did nothing to reduce the national debt - Yorkshire Post Letters
From: William Loneskie, Oxton, Lauder, Berwickshire.
Chancellor Reeves, incredibly, did nothing to reduce the UK's national debt which has reached £2.8 trillion or £98,000 for every household. She increased government expenditure further. It continues to grow and is unsustainable.
Furthermore, all the economic indicators are flashing red. Experts warn that a crash is not only likely, it is certain. The OBR warns that if the AI bubble burst it would increase the budget deficit by £26bn. Yet we have a Chancellor who is pandering to the Labour left and is actually increasing borrowing and the enormous interest payments which go with it. She has - to use a railway term- passed a signal at danger. The debt train careers on.
When the crash comes, could Reeves react like Alastair Darling did in 2008 when Fred Goodwin phoned him up and said RBS was bankrupt and if he didn't do something they would run out of cash by the next morning ? I doubt it.
This Labour government, like the SNP, does not know how to manage public finances. They do not have financiers or business people in their ranks, They are, however, experts at spending other peoples' money - our money.
When the crash comes it is possible that Starmer's government will fall. They do not deserve to be in office. They are Labour in name only. Looking at possible Chancellors for a new government I can see only one possible candidate. That is Mel Stride the Shadow Chancellor.