This is a love blog of what Reeves is saying in the Commons.<\/p>\n
12.37<\/p>\n
We have the right plan.<\/p>\n
12.37<\/p>\n
It's just a shame it has just been blown off course.<\/p>\n
12.38<\/p>\n
She is talking to the Bank of England. You bet she is.<\/p>\n
12.38<\/p>\n
Reeves is going all gung-ho on war talk as a basis for growth. Doesn't she know it is about destruction?<\/p>\n
12.39<\/p>\n
Apparently, we have an active and dynamic state. The trouble is, no one can see it<\/p>\n
And then she commits to stability.<\/p>\n
Inflation is down.<\/p>\n
Bowwoing is down (but only on a technicaly)<\/p>\n
And she claims there is stability. For that, read stagnation.<\/p>\n
Now she promises more change - and also stability.<\/p>\n
12.40<\/p>\n
I have never seen Reeves as nervous as this.<\/p>\n
Now she is claiming credit for interest rate cuts - whilst saying the BoE is independent.<\/p>\n
12.42<\/p>\n
She claims inflation will fall. Has she not noticed we have a war and oil and gas price hikes?<\/p>\n
12.43<\/p>\n
Reannouncing what Labour has done does not create a policy.<\/p>\n
12.44<\/p>\n
She is celebrating scrapping the two-child clause. I would shut up on that one.<\/p>\n
12.45.<\/p>\n
8 minutes in and nothing said.<\/p>\n
12.45<\/p>\n
Growth is unchanged - she says -but grows slower in 2026 and then faster in 2027 on.<\/p>\n
1.1% this year, down on 1.4%.<\/p>\n
Max is 1.6% in the five year forecast.<\/p>\n
She claims growth per person is up. BUT no discussion on distribution, of course.<\/p>\n
12.46<\/p>\n
Unemployment will peak this year and fall to 4.1% by 2029. Still a scandal, I say. All those wasted people.<\/p>\n
Young people, she admits, are in trouble.<\/p>\n
And she admits the situation has got worse. She says she is taking action - we just have not yet seen the results.<\/p>\n
There will be more reforms in the coming weeks - she has just not thought of them as yet.<\/p>\n
12.48<\/p>\n
She is reannouncing her November budget.<\/p>\n
She mentions Green opposition. She has noticed the world is changing, the first useful thing I have learned.<\/p>\n
12.49<\/p>\n
Now she gets to pay.<\/p>\n
And she says new fiscal rules will help them!!!! Absurd. We do not hear what that new fiscal rule might be. I suspect it is the one we have.<\/p>\n
12.50<\/p>\n
Now she says everything is paying off. In effect, there is no reason to change anything.<\/p>\n
12.51<\/p>\n
Word salad is pouring forth, all of it utterly meaningless.<\/p>\n
12.52<\/p>\n
Apparently, she is on the side of working people (so long as they are in the City)<\/p>\n
She just nicked all the lines from Hannah Spencer's victory speech.\u00a0 Amazing!<\/p>\n
12.52<\/p>\n
Now she lambasts Reform as the Tories. They are not. They are fascists. The Tories are just far-right. They are different.<\/p>\n
12.53<\/p>\n
Lame attacks on the Greenes re NATO. So, I guess, she is Trump's poodle.<\/p>\n
12.54<\/p>\n
Borrowing will fall from 4.3% this year to 1.8% in 2029. She might as well forecast Cambridge United winning the Premier League, so unlikely is that.<\/p>\n
And let's be clear, what she is saying is that she will inject less into the economy. So, this is austerity.<\/p>\n
12.56<\/p>\n
\u00a3100 billion a year on interest is a disaster, she says, but she will not cut rates or cut interest on the central bank reserve accounts.<\/p>\n
She is talking total nonsense again. She pretends she has no control when she has. This is a weak statement by a Chancellor who does not understand her job.<\/p>\n
12.58<\/p>\n
She says she rejects austerity. And then she says she must not spend.<\/p>\n
\"My plan is the right plan\". The problem is she has no plan.<\/p>\n
More word salad.<\/p>\n
Utter drivel.<\/p>\n
More later.<\/p>\n","protected":false},"excerpt":{"rendered":"