'Irresponsible' Reeves borrows massive £112bn

RACHEL Reeves is destroying the economy with soaring taxes and “irresponsible spending” after borrowing hit £112billion for the current financial year, Conservatives claimed.

- BY JONATHAN WALKER Whitehall Editor

Official figures showed borrowing reaching the fifth highest figure on record.

Shadow Chancellor Sir Mel Stride warned: “Record high taxes and irresponsible spending have weakened the economy.”

He highlighted figures showing 739,000 young people aged 16-24 are jobless, with youth unemployment at a 10-year high of 16.1%.

Separate data showed inflation at 3%, above the target of 2% although the rate is falling.