More bad news for Reeves heading into the weekend, as the latest S&P Global PMI survey reveals the rate of job cuts over the past two months is at the fastest rate since the 2009 financial crisis. Private sector employment has now declined for four consecutive months. Yesterday Sainsbury’ announced 3,000 job losses thanks to Reeves’ raid…
Chris Williamson of S&P Global warned: “The loss of confidence, combined with widespread concerns over higher staff costs associated with the Budget, pushed employment sharply lower again.” Meanwhile, Elliott Jordan-Doak of Pantheon Macroeconomics points out that firms are passing tax hikes directly onto prices while slashing jobs, leaving the Bank of England unable to “react to slowing growth” as traders bet against rate cuts. Reeves’ economic vandalism hitting hard and fast…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”