Sky News presenter Wilfred Frost didn’t hold back this morning when he took on Gareth Davies, the shadow financial secretary, after Davies claimed that Labour inherited a “good economic situation” from the Conservatives.
The Claim: “A Strong Economy”
Despite the fact that the new government is contending with high borrowing costs, rising inflation, and a dropping pound, Davies insisted the economy was in “great shape” just before Labour took over.
“She [Rachel Reeves] inherited the fastest growing economy in the G7, 2% inflation, debt under control, 800 jobs created per day over the last government. It’s not true to say she inherited this terrible situation.”
Frost’s Hard-Hitting Response
Frost quickly dismantled the narrative, pointing out that while the UK did show some quarters of strong growth, it certainly wasn’t all sunshine and rainbows:
- Economic Growth: “Yes, we had a couple of decent quarters, but overall, the UK has been lagging behind the US for most of the last 14 years.”
- Tax Burden: “The tax burden was at its highest since World War 2.”
- Debt Levels: “Debt was ticking up to 122% of GDP, which doesn’t exactly scream ‘under control.’”
Frost hammered the point home:
“Do you accept that, all factors considered, the economic inheritance was not good?”
The Tory Counterpoint
Davies stood firm, insisting the situation was “a lot better than it is today,” blaming some of the country’s woes on Covid and the Ukraine war.
“I’m not going to pretend it was all perfect,” he conceded, but insisted that “we were turning it around.”
Where Does the Truth Lie?
While each side points the finger of blame, it’s clear that the economy isn’t in the best shape. Whether or not Labour “inherited” this mess is, of course, a matter of debate. But one thing’s for sure: Wilfred Frost isn’t letting politicians off easy when they try to spin a rosier picture than reality allows.
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