As Britain wearily awoke from its collective slumber, who should pop up with a new year message of renewal and hope? None other than Rachel Reeves.
The Chancellor took to social media to declare a “vote of confidence in Britain’s economy”.
No, it wasn’t April 1. It was the start of 2026, and the country was facing up to another year of ineptitude under this Labour Government.
While it was true that the FTSE 100 index climbed above 10,000 points for the first time on the first trading day of the year, not for the first time, meddling Ms Reeves was economical with the truth.
The index set a trading record after the new year holiday, rising to reach 10,046 points, before slumping to below the threshold.
So when Ms Reeves described the brief positive note as a “strong start to 2026" she failed to give the full picture.
The FTSE is dominated by large international companies and is often incorrectly seen as a measure of the UK's corporate strength.
Actually, it more accurately reflects worldwide activity, as the majority of firms listed earn a significant portion of their revenues overseas, as opposed to domestically. The Chancellor's self-congratulatory message is her most ill-judged move yet and will surely come back to haunt her. Express.
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