2025

In her latest economic speech Rachel Reeves claimed that "at the election people voted for a whole new approach". That’s possibly true, although a more realistic interpretation could be that Labour won by default because the Tories imploded, and millions stayed at home in despair at the lack of alternatives to the failing status quo.

Even if we accept Reeves’ interpretation of the election result at face value, it’s still deeply problematic.

If people "voted for a whole new approach" then where are the new ideas? Where are the policies designed to make life better for ordinary people? And why does Rachel Reeves’ economic rhetoric sound indistinguishable from the succession of Tory Chancellors who preceded her?

Let’s look at some of the Labour government core positions under Keir Starmer’s leadership.

Austerity

One of the first things Rachel Reeves did was to launch another economically debilitating round of austerity cutbacks, pinning blame on the previous government for her actions.

That’s pretty much identical to George Osborne’s strategy in 2010, of blaming Labour’s supposed economic mismanagement for his ruinous programme of austerity cuts.

Conclusion: "More of the same"

Privatisation profiteering

Starmer’s Labour outright refuses to countenance taking vital services and infrastructure away from parasitical privatisation profiteers to run them as not-for-profit public services.

In fact Starmer’s health secretary Wes Streeting is salivating at the mouth at the prospect of carving the NHS open for even more private profiteering, to the benefit of several private health figures who have donated hefty sums to Starmer’s front bench.

Even Labour’s renationalisation of the railways is a sham which keeps the trains and freight services under the control of greedy private profiteers.

Labour are on the side of the privatisation profiteers, just like the Tories before them.

Conclusion: "More of the same"

Wittering on about "growth"

Rachel Reeves keeps going on and on about creating "growth" but without setting out any kind of realistic framework to get the economy growing in real terms, and without defining any redistribution strategy to ensure that any additional growth isn’t simply hoovered up by greedy corporations, exploitative landlords, financial speculators, and the tax-dodger brigade, leaving the rest of us even deeper in the mire of inequality.

Without redistribution policies Reeves’ "growth agenda" amounts to the same old trickle down economic bunk that neoliberal political grifters have been spouting for decades.

’Just let the rich get richer, and eventually some of it will trickle down to plebs like you’ - It didn’t work in the 1980s, it didn’t work in the Tory austerity years, and it’s not going to work now.

Conclusion: "More of the same"

Child impoverishment

One of Keir Starmer’s first acts as Prime Minister was to purge seven Labour MPs from the parliamentary party for the crime of voting to scrap the Tories’ diabolical poverty-spreading Two Child Policy.

Recent research from the Joseph Rowntree Foundation shows that child poverty is due to rise in England and Wales under Starmer’s leadership, due to Labour’s draconian welfare policies.

Meanwhile in Scotland, child poverty rates are set to fall as the SNP government works to mitigate the terrible consequences of Reeves’ poverty-spreading agenda.

If Labour were to follow the SNP example and scrap the Two Child policy, it’d raise 800,000 kids out of poverty, but they don’t want to do that because they’re too busy pandering to the rich.

Labour aren’t just sticking with Tory child-impoverishment policies, they’re wittering on about how growth is magically going to fix everything while a third of all British kids grown up in poverty.

Conclusion: "More of the same"

Welfare scapegoating

One of the most depraved things about the 2010-2024 Tory governments was the way they continually attacked the most vulnerable people in society. Not just whipping up public hate against the poor, the unemployed, and the disabled, but implementing cruel and draconian policies to drive the most vulnerable people in society deeper into destitution (Bedroom Tax, Two Child Policy, Benefit Sanctions, "Fit For Work" assessments …).

Rachel Reeves has been copying from the same Tory playbook by distracting from her own economic failings by whipping public resentment against disabled people, and pledging yet another round of austerity cuts to the disability welfare system.

Conclusion: "More of the same"

The panacea of deregulation

Reeves bangs on and on about deregulation, as if giving powerful corporations even more leeway to do whatever they like is magically going to result in prosperity for the rest of us.

Look at the Grenfell tragedy. Look at our rivers and coastal waters full of raw sewage. Look at the life-ruining Post Office Horizon scandal. Look at the outrageous P&O sackings. Look at the collapse of Carillion. Look at the orgy of corruption going on in Teesside.

Who on earth thinks that any of these things would be have been made better by even less regulation than there was?

And who can forget David Cameron endlessly fulminating against "red tape" and promising a "bonfire of regulations".

How is Reeves’ anti-regulation rhetoric any different from what came before?

Conclusion: "More of the same"

Brexit

Reeves only mentions Brexit once in her speech to say "we are pragmatic about the challenges that we have inherited from the last government’s failed Brexit deal".

But what does this even mean?

Keir Starmer whipped Labour MPs into backing Boris Johnson’s Brexit shambles, and he’s repeatedly insisted that the country is stuck with it now, and there’s nothing to be done to try and mitigate the damage.

How can anyone give a speech on "growth" without acknowledging the diabolical impact that Brexit has had on the British economy?

It doesn’t matter how many pensioners, children, and disabled people Reeves drives into destitution in her cruel and counter-productive austerity book-balancing exercises, when the Brexit sanctions we applied on ourselves are such a massive millstone on the UK economy.

Conclusion: "More of the same"

More of the same

In conclusion Reeves is pretending to offer the change that she says the British public wanted, but in reality whole swathes of her speech, and Labour’s policy agenda are indistinguishable from the rhetoric and policies of preceding Tory governments.

And when people are handed the cold gruel of "more of the same" when they’ve been promised that everything will change for the better, that’s the environment of disillusion that the extreme-right absolutely thrive in.