Rachel from accounts continues the destruction of the UK economy with puerile socialist policies –

imagine a brain surgeon with zero qualifications or experience - tone deaf, stupid and dangerous. with the brains of a teenage focus group

i is hard o identify atny government policy tha benefis the economy.

First the details in the ‘Autumn statement’;

From here;

Spring statement: Key points from Rachel Reeves’ economic update

“Here are the key points from her Spring Statement:

Economic growth

The Office for Budget Responsibility (OBR) updated its growth forecasts, taking into account lower net migration. It cut its forecast for 2026 to 1.1%, from its prediction of 1.4% at the autumn Budget, but then upgraded its forecasts to 1.6% in both 2027 and 2028, and 1.5% in both 2029 and 2030.

Inflation

The inflation rate was 3 per cent in January, down from 3.4 per cent in December, with food price inflation down to 3.6% at the start of the year. The OBR predicted inflation falling from 3.4 per cent in 2025 to 2.3 per cent in 2026 and 2.0 per cent from 2027 onwards.

Cost of living

After accounting for inflation, people are forecast to be over £1,000 a year better off , Ms Reeves claimed

Energy

The Chancellor stressed that energy bills would be coming down by £150 from next month.”

Tax

While wages are rising for millions of workers, their pay rises are being eaten away by inflation and tax rises including the ‘stealth’ levy hitting millions of people as the thresholds for paying income tax are frozen up until April 2031 .

Borrowing

Borrowing is set to be £18 billion lower, according to the OBR, compared to the autumn forecast. Public Sector Net Borrowing is set to fall from 4.3% this year, to 3.6% next year, then 2.9%, 2.5%, and 1.8% in 2029-30.

Unemployment

With unemployment already at 5.2%, Ms Reeves said it would peak later this year and then fall in every year of the forecast period, ending the Parliament at 4.1%. The OBR expects the unemployment rate to rise from 4¾ per cent in 2025 to a peak of 5.33 per cent in 2026.

Migration

The UK’s adult population is forecast to grow from 56.7 million this year to 58.1 million by 2030. Growth is around 50,000 a year lower than in the OBR’s November forecast, entirely driven by lower net inward migration.”

The reduction In energy bills is laughable since energy bills are up from £600 a year In 2006 to close to £2,000 this year – LEGISLATED BY successive governments- it is some kind of joke to give back £150 after stealing £1,400 A YEAR!!!

We have just seen a greater than 50 per cent increase in natural gas prices which are used) to set the price of the ‘energy cap’!

Energy bills may surge to £2,500 a year with price cap up 50% due to Iran war - should you fix now?

Out of interest, here’s Brave AI’s assessment of the track record of the OBR:

“In summary, while the OBR’s forecasts are more accurate than the Treasury’s on a median basis, they are not immune to significant errors, especially in long-term projections. The central issue is not just accuracy, but the high volatility and uncertainty inherent in forecasting five years ahead—particularly for fiscal policy, where decisions are now heavily reliant on these very unreliable numbers.”

FWIW, I project 3-5 pr cent inflation per annum to 2028, MINUS 1 to plus1 real GDP growth per annum for 2026/7/8snd unemployment heading

I also expect he fiscal deficit to equate to he cost of servicing debt 9around 4 per cent PLUS an increase in welfare spending of around 2 per cent for a total of 6 pr cent.

I expect that migration will lift the overall population to 60 million by 2030 – maybe lower with a “brain and money drain’’ of a million or so leaving he country.

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