But I’m not satisfied

Chancellor Rachel Reeves admits economy 'is not working well enough' as she reveals Budget date

In a video posted on social media on Wednesday, Ms Reeves said: “Britain’s economy isn’t broken. But I know it’s not working well enough for working people.

“Bills are high. Getting ahead feels tougher. You put more in, get less out. That has to change.

“We’ve got huge potential - world-leading brands, dynamic industries, brilliant universities, and a skilled workforce. We’re a global hub for trade.

“Fixing the foundations has been my mission this past year... But I’m not satisfied. There’s more to do.”


I bet she isn't satisfied, but it isn’t easy to say anything new about this situation, because in a sense her incompetence has fallen below an invisible floor. Our Chancellor's  inability to perform the role is clearly beyond even modest correction.

We have a political party and a leadership which effectively blagged its way to power on the back of a very unpopular government with the aid of inadequately alert voters. We may refer to the party manifesto, vested interests, an inflexible public sector and so on, but the problem to be analysed here is too simple for that – Rachel Reeves shouldn’t be there.

As many know but too many don't, political oversight of government requires a pragmatic acceptance of what works and what doesn't. A pragmatic outlook should take precedence over ideology and political posturing, but it doesn't and therein lies the overall simplicity of the problem.

An analogy might be hospital bed-blockers. We have office-blockers in a number of key ministerial positions, Prime Minister, Chancellor, Foreign Secretary, Education Secretary and so on. They can't perform the role competently and there is a shortage of those who can.

Rachel Reeves isn't alone in her disappointment.