Reform UK MP Richard Tice has launched a scathing attack on Chancellor Rachel Reeves’s Spring Statement, describing the Office for Budget Responsibility’s economic forecasts as “delusional”.
Speaking on GB News shortly after the Chancellor’s address to Parliament, Tice warned that Britain is “heading for a difficult, long, painful recession” despite government optimism.
The Reform UK politician dismissed the economic projections underpinning the Spring Statement, suggesting the OBR officials “have been eating magic mushrooms because it doesn’t add up”.
Tice specifically targeted the OBR’s revised growth forecasts, which were halved from two per cent to one per cent for 2025 as announced by the Chancellor in her statement.
Richard Tice hit out at the Chancellor
GB NEWS
“Let’s just remember they halved their growth forecast and we will end up being way lower than that,” Tice said.
He questioned the consistency of the forecasts, noting: “All of a sudden, after this year, the OBR found in every year they’re after an extra 40 or 50 basis points of growth.”
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Chancellor Rachel Reeves announces reforms to public servicesGB NEWS The Reform UK MP pointed out that the economy was “shrinking in January” and that the Government is “already borrowing £20bn more than the OBR forecast just four months ago.”
Tice directed his criticism at the Chancellor herself, stating: “Rachel Reeves is not an economist so she is totally reliant on these OBR forecasts.”
He accused the Chancellor of contradicting herself, saying: “The Chancellor is saying world events means growth is going down. You can’t have it both ways.”
In his assessment, the Reform UK leader warned that Britain is “heading for financial disaster” under the current economic approach.
The OBR has given its verdict on the Chancellor’s Budget GETTY
Tice claimed that despite Reeves previously presenting herself as an economist, “this chancellor told us she’s an economist, she is not.”
Tice outlined his alternative approach to economic policy, suggesting the government should “scrap stupid net zero and save tens of billions” while cutting “huge amounts of wasteful spending”.
He criticised the Labour government for “imposing more regulations” rather than creating “an incentive to take risk in the private sector”.
On welfare reforms announced by the Chancellor, Tice was dismissive, claiming they “will not happen” as they’ve been “kicked in the long grass”.
He emphasised Reform UK’s business credentials, stating: “We’re successful business people. We know what to do, we’ve been around the block.”
Tice concluded his critique with a stark warning about Britain’s economic future, despite the Chancellor’s more optimistic outlook.
“The numbers are very difficult and we’re in for a difficult time,” he said.
His assessment stands in stark contrast to Reeves’ statement that people will be on average £500 a year better off by the end of the decade compared to previous forecasts.
Tice remained adamant in his prediction: “We’re heading towards a difficult, long, painful recession.”
