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Reading: Rachel Reeves couldn’t handle her own credit card – now she’s maxed out UK’s too
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Westferry Times > Finance and Economy > Finance and Economy > Rachel Reeves couldn’t handle her own credit card – now she’s maxed out UK’s too
Finance and Economy

Rachel Reeves couldn’t handle her own credit card – now she’s maxed out UK’s too

Mona Porwal
By Mona Porwal Published February 18, 2025
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Rachel reeves couldn’t handle her own credit card – now she’s maxed out the UK’s too

If you had to appoint a chancellor to balance the nation’s books, would you choose someone who had their own credit card cancelled? Most wouldn’t. If the candidate had recklessly racked up a £4,000 debt they couldn’t repay, would you trust them to oversee a £2.7 trillion economy? That should be a red flag for anyone.

Now, let’s assume you were looking for a chancellor to restore financial discipline to a country already living beyond its means. Would you opt for someone who blagged freebies from friends to buy clothes? Or someone who had been investigated for fiddling expenses at a previous job?

And if their CV, when fact-checked, started flashing red warnings, what would you do then?

You’d show them the door. Yet Rachel Reeves has done all these things and still landed the role of Chancellor. With predictable results.

She’s been careless with her own finances, and even more reckless with the public’s. And if the facts don’t align with her narrative? No problem—she’ll tweak them. Just as she did with her CV.

This is the person now in charge of the nation’s accounts at a time of economic instability. A politician who once called herself an economist—yet wasn’t. And it shows.

Reeves has stifled growth and job creation by imposing £40 billion in tax hikes on businesses in her october budget. She’s left the country teetering on a financial knife-edge by borrowing another £30 billion—at the highest interest rates seen this millennium.

None of this should come as a surprise.

More Read

Labour MPs in call for benefits U-turn after change to winter fuel payment cut
Men have hundreds more saved in ‘rainy day’ funds than women, research indicates
Finance experts suggest ways to teach children good money habits over the summer
European stocks mixed after hawkish ECB rate cut
Crackdown launched on ‘rogue financial promotions’ by some influencers

This is the same MP who had her parliamentary credit card seized. The same person who once admitted to struggling with her household budget—despite a combined income exceeding £250,000 a year.

Now, with economic growth collapsing and borrowing costs soaring, Reeves has already broken her supposedly ‘iron-clad’ fiscal rule and is being forced to slash public spending.

Of course, she broke it.

She disregards basic principles of money management and accuracy in CV writing. So, it’s no shock that she can’t abide by her own fiscal commitments.

There’s a deeper problem.

How can a chancellor, with a penchant for freebies, command the moral authority to enforce yet another round of austerity on the rest of the country?

She simply can’t.

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