Rachel Reeves’ economic plan is a masterclass in failure — higher taxes, lower growth, and zero accountability. Rachel Reeves’ spring statement is yet another masterclass in economic failure, a predictable blend of empty promises and blame-shifting. Rather than taking responsibility for her disastrous policies, she points the finger at Donald Trump, Vladimir Putin, and previous Tory governments. But no amount of excuses can hide the truth : Labour’s economic management is a catastrophe for Britain.

Since taking office, Reeves has overseen £40 billion in tax hikes, including steep rises in capital gains tax, which have strangled investment and crushed business confidence. Now, her spring statement delivers even more economic gloom. Despite Labour’s rhetoric about growth and stability, the Office of Budget Responsibility (OBR) has slashed the UK’s economic growth forecast to just 1% this year.

Government borrowing is set to exceed previous estimates by £10 billion, and Reeves has just a 50/50 chance of meeting her own fiscal rules. This is not an economy in recovery — it is an economy on life-support.

Astonishingly, the OBR still claims growth will improve from 2026 onwards, despite Labour’s unrelenting appetite for higher taxes and more public spending.

This is wishful thinking at best and outright delusion at worst. Under Labour, the UK’s tax burden is set to reach a post-war high, climbing from 35.3% of GDP to a staggering 37.7% by 2027-28.

Reeves might try to spin this as fiscal responsibility, but the reality is that hardworking Britons are being squeezed to fund Labour’s incompetence.

For all its talk of tackling inequality, Labour’s economic policies have disproportionately harmed ordinary people. Real GDP per capita has fallen, and no amount of mass immigration can hide the fact that the average Briton is getting poorer.

Meanwhile, Reeves’ so-called welfare reforms are nothing more than thinly veiled cuts that will leave lower-income households £500 worse off.

Labour’s claim that these measures will encourage people into work is laughable. The reality is that the National Institute of Economic and Social Research has already dismissed them as ineffective.

Britain is a country of immense potential, yet successive governments have squandered our opportunities. Just a year ago, we were the fastest growing economy in the G7. Now, thanks to Labour’s reckless policies, we are staring down the barrel of stagnation.

Labour’s obsession with three things — net zero, speech policing, and ideological indoctrination — is coming at the direct expense of economic growth.

The solution is clear : scrap net zero, lower energy costs, and unleash Britain’s natural resources.

The United States, with energy prices 50% lower than ours, is growing at 3%. There is a direct correlation between affordable energy and economic success.

If Britain is to compete on the world stage, we must reverse the disastrous policies that have crippled our industries and driven up costs for ordinary citizens.

Labour’s failure is undeniable. Their economic policies have failed to deliver growth, their tax hikes are suffocating business, and their refusal to tackle uncontrolled migration is eroding the living standards of British citizens.

The future of our economy depends on rejecting Labour’s disastrous agenda and pursuing a path of prosperity, energy independence, and economic freedom.

Britain deserves prosperity, but under Labour, all we get is decline, denial, and disaster.

Richard Thomson was the Reform UK candidate for Braintree in the 2024 General Election and served as a Royal Marine for eight years