Rachel Reeves, who once made headlines by slamming the Tories over a so-called £22bn “black hole,” is now facing serious backlash herself as Britain’s debt spirals – and it’s happening on her watch.
The Office for National Statistics has confirmed that public sector borrowing from April 2024 to April 2025 hit a staggering £151.9 billion. That’s £20.7 billion more than the previous year, making it the third highest borrowing figure on record. Even more alarming, it’s the first time debt has risen since the COVID pandemic, reported the Express.
This news couldn’t come at a worse time for Reeves. The Chancellor, who had previously been critical of Conservative economic management, now finds herself under fire as both debt and public spending balloon.
To make matters worse, the International Monetary Fund just downgraded Britain’s growth forecast, raising fresh doubts about Labour’s economic direction.
Unsurprisingly, the Tories have pounced. Shadow Chancellor Mel Stride wasted no time in blaming what he called Labour’s “high-tax, high-spend agenda” for the mess. And Shadow Trade & Business Secretary Andrew Griffith didn’t hold back either, pointing out that Reeves is currently in Washington while “what she should really be doing is getting a grip on spending back home.”
The criticism is cutting deep because Reeves built much of her reputation on attacking the Conservatives for poor economic stewardship. Now, with these new figures out, critics are accusing her of doing the very same thing – or worse.
While Reeves has yet to offer a clear response to the growing debt and downgraded forecasts, the numbers are speaking loudly. And as pressure mounts, the Chancellor’s silence is being noticed.
Whether Labour supporters will rally behind her or start questioning her handling of the economy remains to be seen – but for now, the honeymoon is over.
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