Reeves says she has “more to do” as Chancellor:
“I’m really proud of my record, and I think in those two years, if you look at first of all those key macro-numbers on inflation, on interest rates, on economic growth, the fact that wages have risen faster than inflation for every single month that I’ve been Chancellor of the Exchequer…
“The fact that for the first time since 2019 we’ve got government borrowing between 5 per cent of GDP, 4.2 per cent in the last year, reflects the choices I’ve made…
“I’m proud of my record, yes. I’ve got more to do. In the Budget this year, we’ve got plans around fiscal devolution for example, further reforms to business rates that I set out earlier this week using revenues from properly taxing low-value imports from overseas, for example. So yes, there is more to do, but all of that has to be anchored around that stability that I’ve returned to the economy.”
Although she later admitted that “whoever is Chancellor” in three weeks will inherit the gift of her perfectly stable economy…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”