Almost 11,000 millionaires have left Britain after being spooked by the Chancellor’s policies, argues Reform UK deputy leader Richard Tice

Rachel Reeves’s latest spending review is more of the same waffle and spin we have heard in the past – it is a blatant warning of tough times ahead. No matter how much she reshuffles the numbers or rebrands the narrative, the reality is stark: Labour has shattered confidence in our economy and inflicted serious, long-term damage.

In the past year alone, over 10,800 millionaires left the United Kingdom — a staggering 157% increase compared to the previous year. If this trend continues, British industry and British jobs will become a thing of the past.

The consequences of Rachel Reeves’s economic strategy are all too familiar, says Richard Tice (Image: Getty)

There is no greater indication of failure than when a country’s wealthiest start fleeing in droves. The UK is no longer the land of opportunity it once was.

Those who do make it are increasingly choosing to leave in favour of countries that are welcoming to business and incentivise growth.

The consequences of Reeves’s economic strategy are all too familiar — higher taxes, deeper job losses, mounting debt, and a catastrophic collapse in business confidence.

Just look at the numbers: inflation is up 1.3%, unemployment up 0.5%, GDP growth down 0.6%, and debt up by nearly 0.7%.

There are 270,000 fewer people in work, despite ever-increasing population growth and promises that immigration is good for our economy. The evidence is quite to the contrary. In the month of April alone, unemployment rose by 109,000 due to NIC increases.

This cash splurge is only happening because of the rise of Reform UK. Before our historic win in the local elections, this Government was attacking farmers, families and working people.

The mismanagement of public funds runs not only through Downing Street but also through councils across the entire United Kingdom.

In Reform-controlled councils alone, we have already identified and saved over £100million in just the past six weeks — and we are only getting started. There are hundreds of millions more in waste waiting to be exposed and cut by Reform.

Labour’s economic policies all seem to be lacking the same thing: any desire to put British jobs and industry ahead of the interest of foreign governments.

As we’ve seen with their border policies, chagos deals, and attack on the farming industry – British taxpayers are always the ones who suffer.

I don’t believe there is any hope left for this Labour Government, they have proven unfit to govern.

Labour’s betrayal of the hardworking British public — through economic failure, open borders, and sheer complacency — risks marking the downfall of Great Britain.

Reeves’s immigration announcements will mean that we will have, at minimum, another four years of migrants filling up hotels across the country – causing increased crime rates and adding to our already dreadful housing crisis.

The British people have had enough of the abuse from a two-party system that continues to prioritise self-interests and party politics over genuine change.

If it was not for the growing threat of Reform, Labour would have never U-turned on winter fuel payments or the two-child benefit cap.

Our presence in British politics has not only influenced their decision-making for the better, but has held politicians accountable for their actions – something that has been missing for decades.

As we continue to build, professionalise, and attract disillusioned voters from across the country, we will continue to be the only party that truly cares for the interests of ordinary Britons above all else.

Our mission is to revive economic prosperity, tackle the illegal immigration crisis, and eliminate sleaze and corruption from political life.

Today, we are more prepared than ever to deliver on these promises. Reform UK is going nowhere and only we can reverse the damage done by decades of Tory and Labour leadership.