‘Economically illiterate' Reform won't save dying high streets, says Stride
Reform UK is 'economically illiterate' and has no plan to save Britain's dying high streets, the shadow chancellor has said.
Sir Mel Stride, a key Tory frontbencher, accused Nigel Farage's party of peddling 'fantasy economics' as he launched a new campaign to save Britain's high streets from Labour's tax raid.
The Conservatives suffered bruising losses at the hands of Reform in this month's local elections and Sir Mel said the party would produce a 'thorough' plan to rejuvenate the country's struggling high streets and win back voters.
He said: 'You don't fix struggling high streets with fantasy economics. High streets deserve serious, credible solutions, not uncosted slogans.
'[Mr Farage] doesn't have a clear, credible plan, he's just making announcements. We will have a well thought-through, thorough plan that stacks up. We will want to get the tax burden down, but we will show how it can be done in a responsible way.'
Sir Mel's party is licking its wounds after getting trounced by Reform at last week's local elections.
The Tories lost 674 councillors and the majority control of every council it controlled. In comparison, Reform won majority control of 10 councils and 677 council seats.
As part of its economic proposals, Reform has promised to abolish business rates for small businesses, introduce an online delivery tax for large multinationals, cut entrepreneurs' tax to 5pc and slash the main corporation tax rate from 25pc to 20pc.
However, the shadow chancellor accused the party's manifesto of being 'largely economically illiterate'.
He said Reform had 'not had the proper scrutiny that it needs and will now get in areas like the economy'.
Sir Mel was speaking ahead of a visit to the last outpost of Beales, a 140-year-old retailer based in Poole, Dorset.
The company has launched a 'Rachel Reeves closing down sale' to protest against the Government's tax policy and its impact on the high street.
High taxes, falling consumer confidence and increased competition from online giants have all been blamed for mass closures of shops across the UK.
In recent months, businesses have had to grapple with the Chancellor's decision to increase National Insurance (NI) contributions and lower the threshold at which they are paid.
Bosses have warned the combination of these factors means they will have to cancel investments, pause hiring and even close down in some cases.
Tony Brown, Beales' chief executive, said the combined effect of Ms Reeves's policies would cost the company more than £200,000 in added annual costs.
Sir Mel said: 'It's successful, community-based, high street business that is just getting hollowed out. That is what you start to lose. We've got to get those costs down.
'[Labour] has no concept of [small businesses'] importance and no concept of what it is to struggle with and fight to create a successful enterprise.
'My background is that not long after I left university, I set up my own company, and I did it sitting at the kitchen table. I got people together, and we climbed those metaphorical mountains.'
The Tories' local election defeat has prompted calls for Kemi Badenoch, the party leader, to resign. However, Sir Mel said Ms Badenoch had 'taken on one of the toughest roles in British politics' and that the party would 'earn back the trust of the British people'.
'We're under new leadership. There are many things that as a party we've done in the past that we will be doing very differently,' he said.
The Treasury was contacted for comment. A Reform UK spokesman said it did not usually comment on statements made by 'minor parties'.
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