UK ranking slump misery for Reeves

RACHEL Reeves's “annus horribilis” was rounded off today by a major report that blamed her Budget for Britain's “subpar” economic performance.

- BY MARTYN BROWN

Gross domestic product is forecast to be lower than average over the next five years, while the UK is set to plunge below Finland and Belgium in the latest GDP per capita global rankings, thanks to the Chancellor's tax raid.

The UK will slump to 22nd place in the rankings by 2030, according to the influential Centre for Economics and Business Research. The findings are a major blow to Sir Keir Starmer, who trumpeted the metric as a way to judge his promise that “working people will have more money in their pocket”.

Shadow Chancellor Sir Mel Stride said: “As we say goodbye to 2025 — undoubtedly Rachel Reeves's annus horribilis — I urge the Chancellor to change course in 2026. It's not too late to put the country before your own political survival.”

The CEBR says that Labour has had little success in its first full calendar year in government: “Having been elected on a platform to boost growth, only very limited success has been achieved.

“Policy announcements at the autumn 2025 Budget did little to support the near-term growth outlook.

“Over the next five years the annual rate of GDP growth is set to remain subpar, at an annual average of 1.5%.”

Gloomy

The warning is the latest indictment of Ms Reeves's handling of the economy, which has seen her come under intense pressure in 2025 with mounting demands for her to be sacked.