Chancellor Reeves Under Fire for Economic Policies and China Trip

Chancellor Reeves Faces Criticism for Economic Policies and China Trip

Chancellor Rachel Reeves is facing mounting criticism for her handling of the UK economy, with experts and opposition figures accusing her of pushing the country towards 1970s-style economic chaos.

The criticism comes amid soaring borrowing costs, a falling pound, and concerns about the impact of planned tax hikes on businesses.

Shadow Chancellor Mel Stride accused Reeves of having her "priorities badly wrong" and pivoting the UK back towards the 1970s with her economic decisions. He called for her to return from her trip to China and address the "mess of her own making."

Reform UK's Rupert Lowe also criticized Reeves, stating that she and Labour leader Keir Starmer had "put a bullet through the heart of entrepreneurial, aspirational Britain" and driven the economy to a "cliff-edge." He demanded that she appear before MPs to answer for her "incompetence."

Reeves defended her visit to China, claiming that agreements reached during the trip were worth £600 million to the UK economy over the next five years. However, there is cross-party concern about the economic turmoil, with the cost of borrowing over a decade reaching its highest level since 2008.

Experts and opposition figures have urged Reeves to resist the temptation to raise taxes and instead focus on reining in public spending. They warn that further tax hikes could push the country towards an "economic doom loop" of reduced business activity and stagnant growth.

The situation has prompted calls for Reeves to take urgent action to address the economic crisis and restore confidence in the government's economic policies.