ANALYSIS

       Rachel Reeves delivers her spring statement (Image: PA)

       Rachel Reeves delivered her spring statement with the gusto of a Chancellor leading an economic revival – one who has just seen the country’s growth forecast for this year halved to a mere one percent. Ms Reeves – who was once tipped as a leading contender to succeed Sir Keir Starmer as Prime Minister – turned her guns on the Conservatives opposite, reminding them of the worst moments of their 14 years in power.

       There was not a hint that her own decisions since arriving at the Treasury have contributed to the dramatic downgrade of the growth forecast and the necessity of welfare cuts to avoid scaring the markets by breaking fiscal rules.

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       Instead of being on course to enjoy ￡9.9billion of headroom – the country’s rainy day cash – the Office for Budget Responsibility warned she was on course to have a deficit of ￡4.1billion if she did not change course.

       What has happened to growth and the national finances since she arrived in office? Ms Reeves pointed to “increased global uncertainty” but gave no indication she considers herself in any way responsible for shredding business and household confidence.

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       Employers across Britain – whether running small businesses or working in the charity or care sector – describe in harrowing terms the difficulties she caused with her shock increase in National Insurance contributions. The chilling prospect of a de facto tax on jobs is bound to have major implications for recruitment, prices and, ultimately, growth.

       Listening to the Chancellor was a grim experience for the legions of Labour MPs who already had to defend changes to disability support – now they will have to face constituents who are angry at the cut to the health element of Universal Credit. Phones in MPs' offices will be ringing with people seeking help.

       Despite making changes which will directly affect the lives of some of Britain’s most vulnerable citizens, Labour refused to describe this as an “emergency Budget”, insisting it is just a “spring statement”.

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       Rachel Reeves to hit Britain with 'devastating' tax rises in brutal ￡36bn raid

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       Fury as MPs get ￡2,558 pay rise as Rachel Reeves brings in brutal spending cuts

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       Rachel Reeves warned she is risking catastrophe with 'devastating' tax

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       Rachel Reeves warned tax hike bombshell could hit Britons in autumn

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       Rachel Reeves to hit Britain with 'devastating' tax rises in brutal ￡36bn raid

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       It is not just people on the Labour backbenches who are anxious. Ministers sitting alongside her are now under pressure to deliver multi-billion pound savings; civil servants will be shown the door in “voluntary exits”.

       There are signs of spring everywhere around Westminster but Ms Reeves’s colleagues will feel they are heading into a season of grimness. But the Chancellor gave no sign that she accepts any responsibility for the country’s economic woes.

       Ms Reeves argues she is delivering the welfare reforms a pheonmenally expensive system urgently requires, and she is unapologetic about her mission to preserve stability. But when employers find it increasingly difficult to stay in the black and consumers bear the consequences of higher prices they will decide who should carry the blame.