Kwasi Kwarteng the former Chancellor has warned that Labour has “no easy way out” as the UK’s economic future under the current government.
Kwarteng warned that Labour have trapped themselves amid their “disastrous” Budget and that the Chancellor may not find an “easy way out” of this.
Kwarteng warned that Labour has killed the economy “stone dead” and there is a danger that we could be heading into a recession.
Speaking to GB News Kwarteng said, “I think it’s a worse situation because there’s no easy way out.
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What happened with us was that Liz Truss sacked me, and then they reversed all the all the some of the good policies, I thought.
“But they reversed all the policies in the mini budget. Where we are now is there’s no there’s no end in sight.
You’ve got a Labour government with a majority of 175 something in that region, and they were another election in four years’ time, which is quite a long way away.
“There’s no inkling that they’re going to reverse course or change their policy.
“So in the meantime, I think they’re going to kill growth. I think what Mel said was 100% right.
They’ve killed it stone dead. And the danger is that we’ll get in will be in a recession, God forbid.
If that happens, their only recourse will be to raise taxes even more, which will actually cause lower growth.
