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Rachel Reeves is 'wielding policy like a toddler with a chainsaw and must exit stage left'

ended 13. January 2025

Following last week's turmoil in the bond markets and growing concerns around the deterioration of the economy — even before the impact of the Autumn Budget feeds through — Newspage asked business owners from all sectors if it is time for the Chancellor to resign. Their views are below.

12 responses from the Newspage community

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The Chancellor must either step down or execute a swift U-turn, as she is currently steering the UK full speed into a dead end. Presented as a "budget for growth," the reality is starkly different—much like the discrepancies in her CV. The only noticeable growth has been in government debt.
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While gilt yields soar and the pound plummets, you can't help but wonder if the ghost of the mini-Budget is haunting the Treasury. Despite months of propaganda dispelling budgetary concerns as misguided, a sense of déjà vu is palpable. Chancellor Reeves was presented as Labour's fiscal wunderkind, aiming to transform the UK from a debt-laden laggard to an economic powerhouse. Yet, despite frequently criticising the catastrophic consequences of the previous government, there are worrying signs that many of the same mistakes are being repeated. Labour’s apparent willingness to consider significant borrowing increases without clear plans for fiscal sustainability and a total disregard for the true drivers of economic growth make the market’s harsh reaction fairly unsurprising. It’s highly unlikely that any leadership changes will be made in the near future, however the coming months will be crucial in determining if even those who can remember the past are still condemned to repeat it.
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The best thing the Chancellor can do for this country is tender her resignation. However, who will replace her? Unfortunately, the pickings are slim. We seriously need to reevaluate the competence of key cabinet candidates. The markets may have claimed another head, which is unfortunate because we had high hopes. But, if she couldn’t see the potential outcome of her actions, she wasn’t ready for the role.
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It’s time for the Chancellor, the Prime Minister and the rest of this bumbling Labour circus to exit stage left – before the British public hurls them out. Rachel Reeves, whose grasp of economics appears as flimsy as her questionable CV, has dragged the economy into chaos, wielding policy like a toddler with a chainsaw. This government reeks of hypocrisy, corruption, and incompetence, preaching transparency while wading neck-deep in dodgy dealings. From Siddiq’s Kremlin capers to the PM’s woeful inability to lead, the whole lot have turned Westminster into a bad sitcom. Britain deserves leaders with integrity, not a band of chancers stumbling from one scandal to the next.
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It’s a resounding yes. The current context of Reeves’ tenure, with the effective lies of not going through austerity, to the lies of her job history, and now to the bond markets reacting extremely poorly to her message for ‘change’ leaves her position untenable. The bond market is crying out for a growth agenda — it is not crying out for this punitive and ideologically driven budget which makes no sense, given the govt’s willingness to send £11 billion to Africa for climate aid, increased spending on asylum seekers and Miliband’s insane plan to capture carbon, again a multi-billion quid ordeal. None of it makes sense — while bond yields are rallying globally, there is a very British problem where we have had two consecutive months of negative growth and extremely poor forward-looking sentiment.
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Should the Chancellor resign? It's a definite yes from me. It is hard to determine exactly where the Chancellor sits politically, but what is certain is that she has generated zero confidence amongst the business community. From the corner shop to the city boardroom, confidence is at an all time low, and without that confidence, the economic growth the Chancellor wants and desires is just a mirage on the horizon. It was hard to imagine that Reeveonomics could be as disastrous as Trussonomics but it has proven to be the case. I never thought I would say this, but bring back Gordon Brown (or persuade Jeremy Hunt to swap sides in the Commons) – all is forgiven.
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The only time "Rachel Reeves" and "economical" should be together is in the phrase "Rachel Reeves is economical with the truth". Whilst most people have probably massaged the truth on their CV at one point or another, "Rachel from accounts" is quite clearly out of her depth and more interested in updating her LinkedIn page than actually growing the economy. The problem? The current pool of "talent" to occupy posts in the Cabinet is pretty poor and the same applies to other political parties, too. Politics in the UK needs reform (not the party, like, serious overhaul), otherwise we're just going to keep making the same mistakes over and over again.
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Any skeletons found in the detritus that the Tory party left behind should have been swept up by a Labour Chancellor far more experienced and qualified than the one we have at the moment. Being savvy with numbers as Chancellor is also about being savvy with sales, so taking flight from a country reeling with the pain she inflicted on its own people is not a great shop front to nations around the world. She needs to get her own house in order before trying to sell the UK to the rest of the world – many of whom will be laughing behind her back.
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The Chancellor should resign and take the Prime Minister with her.
They haven’t stuck to anything they promised and in fact, on some occasions, have been proven to outright lie.
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Is it time for Labour to make serious changes? Absolutely. And let’s be clear, I’m not just talking about Rachel Reeves. Keir Starmer might be making waves, but they’re not the kind that inspire any kind of confidence. The British public deserves a government that actually knows what it’s doing. We’ve been navigating uncertainty for too long but what we’re seeing now is on another level – and let’s not ignore the diminishing respect for the Prime Minister. Honestly, he has to go.
Leadership is about stability, credibility and direction, and right now, that feels like it’s in short supply. It’s time for real change, not just a reshuffle of faces, and for someone to step up and steer this country back on course.
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A change in key personnel requires a well-thought-out plan to succeed. Right now, the pressure on Rachel Reeves and Sir Keir is intensifying. In my view, she has no more than 12 months to turn things around. For this to happen, there must be a strong, viable alternative plan in place, particularly given Labour's majority. When public sentiment shifts and influential voices rally behind a new direction, her fate will be sealed. Rachel promised that there was no alternative and that growth would follow – but if that growth isn’t materialising or projected, she will undoubtedly be one of the sacrifices made.
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The irony is almost poetic—Labour came to power promising change, yet under Rachel Reeves, they’ve managed to stumble into the very economic pitfalls they once criticised. Her attempt to blame a ‘poor inheritance’ has backfired, draining confidence from the economy and exacerbating the crisis with poorly conceived budget choices. Meanwhile, Prime Minister ‘Two-Tier Keir’ Starmer appears more comfortable acting as a lawyer than leading the country, leaving businesses and the general public questioning their competence. Reeves’s naivety has turned the so-called ‘budget for growth’ into a budget for stagnation, and while she may cling to her position due to a bare cupboard of replacements, the cost to the nation is mounting. Labour’s lack of experience in both leadership and industry is glaring, and their refusal to learn from their mistakes only deepens the crisis. For all their talk of progress, they now mirror the very failings they vowed to fix—how long can this charade continue before credibility becomes just another empty word?