Rachel Reeves Criticizes Nigel Farage's Economic Plans as UK Faces Stagnation

The Chancellor defends her controversial budget while attacking Reform UK’s proposals, as economic growth falters and criticism mounts.

Rachel Reeves has dismissed Nigel Farage's economic plans, claiming he lacks a credible strategy to address the cost of living crisis or stimulate growth.
The Bank of England has downgraded its growth forecast for the UK to zero for the final quarter of 2024, citing the impact of Reeves' budget and broader economic uncertainties.
Labour's first budget, which raised employer National Insurance contributions and the minimum wage, has drawn criticism for contributing to inflation, job cuts, and reduced business confidence.
Reeves has defended her decisions, emphasizing the need for stability and long-term growth but acknowledged that improvements will take time to materialize.
Reform UK is gaining traction in polls with policies such as tax cuts and partial industry nationalization, posing a potential challenge to Labour’s voter base.