Nick Ferrari ignited a political firestorm on Monday as he tore into Chancellor Rachel Reeves over what he described as her “relentless stream of misleading claims” in the run-up to her divisive Budget. Hosting his LBC show on December 1, the veteran broadcaster shook his head as he scrolled through the morning papers and muttered that “the hits keep on coming”, with nearly every front page accusing Reeves of bending the truth during her pre-Budget briefing on November 4.
During that earlier speech, Reeves had stressed that sinking productivity figures — “the numbers, the spreadsheets, everything I have to weigh up” — meant tougher choices “for everyone”. What she did not mention, however, was that tax receipts had come in far higher than forecast, more than offsetting the drop in productivity growth. Critics claimed this omission created an unnecessarily bleak picture that paved the way for steeper tax rises.
Reeves has insisted she was transparent, saying that OBR figures showed “less fiscal space than there was” and that she had been “upfront” about the pressures she faced. But Conservative leader Kemi Badenoch doubled down, repeating her call for Reeves to resign and accusing her of giving the public a pessimistic financial outlook “as a smokescreen”.
Appearing on BBC One’s Sunday with Laura Kuenssberg, Reeves firmly rejected accusations that she misled voters. Badenoch, who was also on the programme, bluntly said she did not believe the Chancellor’s denial.
The Conservatives insist Reeves deliberately presented gloomy finances to justify tax hikes. Reeves argued there was simply no hidden cash: “I didn’t have an extra £4 billion to play with,” she said, explaining that headroom had been cut from £9.9 billion in the spring to £4.2 billion in the autumn.
Prime Minister Keir Starmer attempted to steady the ship on Monday, telling reporters that an OBR review had revealed £16 billion less than previously estimated before the Budget. He said the Government had committed to protecting the NHS, safeguarding public services, lowering borrowing costs and improving living standards. “Against that backdrop, it was inevitable that we would have to raise revenue. There was no misleading there,” Starmer said.
But Ferrari’s five-word takedown — delivered with trademark bite — has only intensified a storm already swallowing Westminster.
