By GB News (Politics) | Created at 2024-11-21 10:33:45 | Updated at 2024-11-23 09:59:53
1 day ago
Jacob Rees-Mogg has launched a scathing attack on Labour's economic performance, claiming the Government agenda has failed within just six months of taking office.
Speaking on GB News, the host criticised Labour's handling of the economy, pointing to rising inflation and increased taxes.
"In less than six months since taking office, Labour's economic agenda has already failed," Rees-Mogg declared.
The criticism comes amid ongoing controversy surrounding Chancellor Rachel Reeves' CV claims.
Jacob Rees-Mogg has claimed "Labour's economic agenda has already failed"
GB News
The issue was raised during Prime Minister's Questions, with Reform UK's Lee Anderson referring to "Rachel from accounts' CV."
He accused Labour of spending "three months telling everyone we were all doomed," which he claimed undermined the economy and deterred investment.
Rees-Mogg said: "Let's look at the facts. When Labour took power, it inherited some of the strongest growth in the G7. But then it spent three months telling everyone we were all doomed, how awful Britain is.
“In spite of claiming they were going for growth, they endlessly undermined the economy and spooked the markets, deterring investment.
Jacob Rees-Mogg said that businesses are already discussing cutting jobs
GB News
“This was followed by a raw socialist budget that attacked business and the creators of wealth. Worst of all is its £25billion National Insurance raid, a policy that broke its manifesto commitment.
“It's prompted the Bank of England, hardly a bastion of right-wingery, mainly a left-wing woke organisation, along with Tesco, Asda, Sainsbury, Boots and Amazon, all to warn of job cuts and price rises.
“The price rises will then keep interest rates higher than they need to be, and this will affect you. This will affect households whose mortgages will cost more and will increase the yield on government debt, which will add to the burden of taxation.
“It's worth remembering when the PM said there was confidence in his mission from business. But today, Ford announces job cuts across the country.
“Not only will we be a high tax but also a high regulation economy, only today, the House of Lords has a bill in committee which will make it easier to adopt the European Union's rules and regulations as if Brexit had never happened.
“We know exactly what that means: more red tape, more regulation, less innovation, less entrepreneurship.
“When you compound all these issues with Labour's disastrous handling of the farmers’ inheritance tax hike, the fact that 100,000 pensioners have been dragged into poverty after Labour took their winter fuel allowance without giving any thought to the effects of it, to give the money to overpaid train drivers and their other friends in the public sector.
“With mortgages and rents that are going to go up, it's become increasingly clear that Labour's economic agenda has failed in the way Labour economic agendas always fail. But this time, within six months of taking office.”
