OVER the weekend the world was left reeling by events in Iran and the subsequent missile and drone attacks across the Middle East.
The threats to the world oil supply have caused falling stock prices and an immediate risk to the cost of goods.
It wasn’t the best backdrop for the Chancellor to come to the House of Commons to deliver her spring update on the economy and I would guess her speech would have gone through a number of fresh drafts in the days leading up to her statement.
But, even before the attack on Iran, Rachel Reeves’ own decisions have done serious damage to unemployment, business investment and growth.
There were some things she should have said in her speech that didn’t make it into the final draft.
She should have heard the voices clamouring for changes to the student loan system to make it fair for graduates with large debt and dwindling job prospects.
At the Treasury Select Committee we heard directly from the Bank of England about the risks of spiralling youth unemployment and we’ve now added young people to the pensioners, farmers, family business owners, hospitality businesses and entrepreneurs who this government and this chancellor are harming.
A Conservative government would fully reverse the inheritance tax changes, abolish stamp duty and make business rates much fairer for business owners with a 100 per cent rebate on all retail, hospitality and leisure under a £110,000 rateable value.
The Office for Budget Responsibility has already said its forecast has not taken account of higher oil and gas prices so the chancellor’s statement is not worth bothering with.
But I hope she sees sense and encourages UK oil and gas production.
I’ll keep pushing for even more U-turns from this chancellor and this government.
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