Faced with weak growth, mounting debt and global instability, Britain needed a bold, pro-enterprise Budget. Instead, says James Price, Senior Fellow at the Adam Smith Institute, Rachel Reeves delivered one designed for party management rather than national renewal. In this essay, Price argues that Labour has no credible growth strategy — no serious tax reform, no supply-side agenda, and no appetite to shrink the state. The result, he warns, is an economy trapped in stagnation and a government running out of time to act.

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