“ The Prime Minister should also stop deliberately confusing “the economy” with the public finances – a mistake which reveals a man with little experience or knowledge of how business and the private sector operate.
The latter are in a mess, the former isn’t. Average real pay in Britain has been rising since 2023 – one of the most powerful “pull through” indicators of public optimism about the state of their lives. Inflation has been falling since 2022. Britain has the fastest growing economy in the G7 club of richest nations, unemployment is declining. The economic atmospherics are positive.
Reeves suffers from the same affliction, famously saying that she had inherited the worst economic conditions since the Second World War – stretching the credulity of the public, even those who can’t remember the era of ration books and bomb sites.”…..