MEZIESBLOG

Parties always have to work hard to prove they won’t live up to people’s worst stereotypes of them.

The Tories don’t care about the public sector. They’ll sell off the NHS. 

Labour don’t care about the private sector. They’ll screw over business.

That’s why Keir Starmer and Rachel Reeves worked so hard before the election to prove Labour could be trusted with the economy.

Hard-won trust can be easily lost

Remember all those business breakfasts, when salmon sandwiches became the new prawn cocktail offensive?

It worked, helped along of course by the Tories machine-gunning their reputation for economic competence.

An open letter signed by 120 businesses endorsed Starmer’s party, an overwhelming majority at the election followed.

Business trust was hard won – and it’s easily lost.

Today the Confederation of British Industry said the tough trading environment had been worse by the budget, the boss of McVities said it’s becoming “harder to understand the case for investment in the UK”, and companies from Tesco to Next have warned of higher prices.

Unpalatable choices are part of politics

Rachel Reeves has said because of the fiscal backdrop, she had no alternative – but that’s never true in politics.

You could raise other taxes, cut spending, limit public sector pay.

I’m not saying these would be any better, but politics is always about unpalatable choices. 

There are no easy alternatives, but there are always alternatives

The worst received budget since… the man sitting next to you?

A political analyst with Sky News, Jon Craig, is notable for not pulling any punches – and today is no different.

Speaking after Chancellor Rachel Reeves’s appearance before business leaders today, Jon says she was on “the defensive”.

He says he “can’t recall a more unpopular budget” than the one she delivered last month.

Sophy Ridge points out Kwasi Kwarteng is one of our panellists and in the room – before apologising to the Truss-era chancellor.

As the former Tory MP’s laughter booms across the studio, Jon points out Mr Kwarteng “didn’t last very long” – while Ms Reeves “battles on”.

‘She’s having a terrible time’

Our man goes on to point out Ms Reeves has come under criticism for a number of issues, including allegations of plagiarism and claims she “doctored” her CV.

“She’s having a terrible time,” Jon says.

“She was defensive today. You listed a number of potential alternative policies, didn’t you, at the beginning of the programme.

“But she said ‘there’s no alternative’ – that’s very Margaret Thatcher, isn’t it? There is no alternative… TINA, she was known as.”

Mr Kwarteng later points out that, as much as blame may be pinned on Ms Reeves for a bad budget, ultimately the prime minister will have to take the blame.

If the economy continues to do badly, the former chancellor says it is likely Sir Keir will pull his backing of Ms Reeves – as Ms Truss did to him.