Footage has emerged from 2010, that shows a newbie MP failing to tell the difference between the debt and the deficit.
Despite boasting of her background in financial services, asked very clearly what the current national debt was, newly elected Rachel Reeves replied: “£156 billion” – the size of the UK budget deficit when the Tories came to power in 2010. She was speaking to Martin Durkin, for his documentary ‘Britain’s Trillion Pound Horror Story’:
For the record the UK’s debt at the time was around £0.76 trillion, so not like she was too far out!
Reeves would be rapidly promoted through a series of Labour financial briefs…