Reeves is still in Washington, D.C., buttering up White House officials in a bid to secure a trade deal. Reeves said last night that the UK would “not rush” any agreement but that she was “confident” a deal could be reached. Back home people aren’t as buoyant…
Consumer confidence crashed in April to -48, down from -35 the month before, according to fresh figures from the British Retail Consortium. The outlook for personal finances also dropped, falling 6 points to -16, while personal savings rose from -5 to -4. Uncertainty around Trump’s tariffs has added to the pressure, though economists are also pointing the finger at Reeves’ tax raid. BRC CEO Helen Dickinson added:
“The risk of higher global prices is an unwanted addition to the £7 billion in new costs hitting retailers this year from higher employer National Insurance, increased national living wage, and a new packaging tax.”
Meanwhile, Labour is leaving the door open for more tax hikes come autumn as ONS figures show government borrowing is £14.6 billion higher than the OBR’s projection. Things can only get worse…
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…”