Planet Normal: ‘The numbers don't add up' in Rachel Reeves' spending review
On the latest Planet Normal podcast, which you can listen to using the audio player below, columnists Liam Halligan and Allison Pearson discuss Labour's spending review with economist Gerard Lyons.
Mr Lyons wasn't convinced by the numbers, ' Early in her speech the Chancellor said, is the plan credible, and the answer unfortunately is, no.'
'T he starting position is debt is very high, and I think we're in the early stages of Britain going into a debt crisis. If you're looking for good news, it might be that we're not the only country facing this problem; but today the Chancellor gave a speech that I think lacked a lot of the detail.'
Allison is not convinced by the claims the economy is stabilising, ' We know it is not true, and we are already starting to see the impact on employment and on businesses. We know payrolls have fallen, that employment's fallen by over 250,000 since Rachel Reeves' budget. This is not an economy where you should be taking the gambles that she's taking. Where is the growth going to come from?'
Planet Normal, a weekly Telegraph podcast featuring news and views from beyond the bubble. Listen on the audio player above or on Apple Podcasts, Spotify or your preferred podcast app.
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