Shadow Chancellor Rachel Reeves has launched a scathing attack on former Prime Minister Liz Truss, branding her economic policies as "reckless" and damaging to the UK economy. In a recent speech, Reeves accused Truss of prioritising short-term political gains over long-term financial stability.
Labour's Alternative Vision
Reeves outlined Labour's alternative economic strategy, emphasising fiscal responsibility and sustainable growth. She argued that the Conservative Party's approach under Truss had left the economy vulnerable and eroded public trust in government economic management.
Key Criticisms of Trussonomics
- Unfunded tax cuts that destabilised markets
- Failure to address long-term productivity issues
- Lack of coherent industrial strategy
- Disregard for inflationary pressures
The Shadow Chancellor stressed that Labour would take a more measured approach, balancing investment in public services with careful economic planning.
Political Fallout Continues
The remarks come as the Conservative Party continues to grapple with the aftermath of Truss's brief premiership, which saw financial markets react negatively to her economic proposals. Reeves positioned Labour as the party of economic competence, seeking to capitalise on Conservative divisions.
With the next general election approaching, economic policy looks set to be a key battleground between the two main parties.
