OPINION

       Mel Stride has taken aim at Keir Starmer and Rachel Reeves (Image: Getty)

       When Labour came to power, they promised “growth, growth, growth”. Rachel Reeves boasted of delivering the most “pro-business” Treasury Britain had ever seen. They vowed to raise living standards and to deliver economic stability.

       But 12 months since the day Keir Starmer entered Downing Street, and Labour’s first year in government has delivered the opposite: weaker growth, higher taxes, the cost of living rising, unemployment up, borrowing through the roof and the public finances in disarray. This government’s economic record is one of broken promises, costly U-turns, and reckless mismanagement.

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       READ MORE: Reeves may target millions with punishing income tax hikes to plug ￡40bn hole

       The official independent forecasts in March halved the forecast for economic growth this year. Growth has stalled because of Labour’s damaging policies - policies that punish business, choke investment, and leave working families worse off.

       Labour’s ￡25 billion Jobs Tax has hit employers - and workers - hard. Businesses face soaring costs, forcing them to put up prices or cut jobs.

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       And at the Budget the Chancellor launched an inheritance tax raid on family-owned businesses. Confidence has been shattered.

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       This is no recipe for growth - it’s a stranglehold on our economy.

       The national debt interest bill has exploded to nearly ￡100 billion a year – almost double what we spend on defence. Labour promised fiscal responsibility but instead abandoned it.

       They rewrote the rules to allow hundreds of billions more in borrowing over the coming years – something Rachel Reeves said before the election she would not do. Another broken promise.

       And now on top of the debts they were already racking up, Labour have made a series of humiliating u-turns on key policies with no clue how they are going to pay for them.

       Their welfare reforms were stripped bare at the last minute in a desperate attempt to avoid both a defeat and a confidence vote in Keir Starmer.

       Their U-turn on Winter Fuel Payments added a ￡1.25 billion hole. And we also know they’re eyeing scrapping the two-child benefit cap, another ￡3.5 billion unfunded cost.

       This government is spending with no plan to pay.

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       Labour’s refusal to take tough decisions has left a massive hole in the public finances, and set the country on a dangerous path to soaring taxes and spiralling debt.

       This summer, hardworking families face anxiety over how Labour plans to plug the growing financial black hole caused by their incompetence.

       It isn't a serious government - it’s chaos. And working families are having to tighten their belts.

       Because, as sure as night follows day, Labour will put up your taxes. Yesterday morning, we heard from the head of the independent Institute for Fiscal Studies that Reeves could be set to clobber middle earners even more in a Budget raid in autumn.

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       Rachel Reeves to unleash 'biblical' ￡20bn Budget tax blitz to fund Labour's 'clusterf***'

       261 Comments

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       Undo

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       Undo

       Crying Rachel Reeves switches to lottery winner joy - Labour think we're idiots like them

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       Undo

       Starmer branded 'puppet of the Left' over welfare U-turn after Rachel Reeves meltdown

       11 Comments

       Labour insiders 'fear Rachel Reeves' PMQs tears have made her 'unsackable'

       54 Comments

       Currys boss' chilling warning to Reeves: 'think very carefully' before you make it 'worse'

       37 Comments

       Desperate businesses plead with Keir Starmer to promise no more tax increases

       3 Comments

       Rachel Reeves may target millions with punishing income tax hikes to plug ￡40bn hole

       56 Comments

       Keir Starmer faces fresh revolt from rural MPs after ￡2.8bn inheritance tax raid

       20 Comments

       Rachel Reeves nightmare as she could be forced to make 'six' massive tax rises

       9 Comments

       Rachel Reeves doomed as Donald Trump drops 'big, beautiful' debt bomb on UK

       758 Comments

       Rachel Reeves to unleash 'biblical' ￡20bn Budget tax blitz to fund Labour's 'clusterf***'

       261 Comments

       Rachel Reeves in the firing line as 'lame duck' Prime Minister plots reset

       27 Comments

       Russian economy meltdown as oil revenue nosedives and price of pork rockets 15%

       15 Comments

       Rachel Reeves urged to 'end the triple lock'

       3 Comments

       Rachel Reeves ‘could be forced into ￡40bn extra tax hikes' after benefits disaster

       61 Comments

       Rachel Reeves hints at fresh tax raid as ￡40bn hole blown in Labour budget

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       As we have sadly warned all along, tax rises are now inevitable.

       But even as we learn she could need to raise as much as an eyewatering ￡30 billion, Rachel Reeves still tries to pull the wool over our eyes. It’s shocking but not surprising - Labour's thirst for tax rises cannot be quenched.

       It's no wonder Labour always leave office with unemployment higher than when they came in. This Government looks determined to fulfil that prophecy by any means necessary.