Mel Stride: Reform is not offering the public a realistic economic deal
On the latest Planet Normal podcast, which you can listen to using the audio player below, columnists Liam Halligan and Allison Pearson speak to Mel Stride, Shadow Chancellor of the Exchequer, who warns of growing economic threats from both the Left and the populist Right.
Speaking ahead of his speech today, Mr Stride outlines where he sees the fiscal threat from Reform and why he doesn't believe they will be effective. 'It appears that they are whatever kind of party they think will appeal to what people want to hear in different parts of the country and across the political spectrum. This is a party that, on the one hand, likes to talk about lowering taxes, and on the other hand wants to increase welfare spending, with the abolition of the two child benefit cap.'
'These tax cuts are there right across the board and where they can apparently find the money very quickly, but none of it is realistic.'
In regards to Labour, Mr Stride lays out where he believes they have caused economic damage; ' The reality is this government's economic policy, which has included putting up National Insurance on employers, that cost has been passed on by way of higher prices has also fuelled inflation.
'It has also had a devastating consequence on the servicing costs of our national debt. We are now spending, on servicing costs on our national debt alone, about a hundred billion pounds, which is twice what we spend on defence. Those kinds of levels of spending and pressure on the public finances can be laid very squarely at the door of Rachel Reeves.'
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