'Where's Wally?' jibe as Reeves is accused of 'fleeing' to China amid growing economic crisis

THE Chancellor was lampooned as Where's Wally? and accused of "flee- ing to China" while crisis grips the economy with higher prices and lower wages in the pipeline.

- By Jonathan Walker and Christian Calgie

Turmoil in financial markets meant the cost of Government borrowing soared and stoked fears of spending cuts, but Rachel Reeves rejected calls to cancel a trade trip to Beijing.

Shadow Chancellor Mel Stride said she was "missing in action" and that she should "focus on this country".

He added: "The Chancellor is squandering the endeavours of mil- lions of hard-working people who are now having to pay the price for yet another socialist government taxing and spending their way into trouble."

Damning

Shadow business secretary Andrew Griffith went further, Photoshopping the Chancellor as the character Where's Wally? online.

A damning report by the Bank of England exposed the impact of Ms Reeves's decision to raise national insurance contributions for employ- ers, with most firms set to increase prices and employ fewer workers.

Four in 10 businesses said they expected to pay lower wages due to the hike, part of a £36billion package of tax rises. Findings were based on a survey of Chief Financial Officers in businesses nationwide.

Meanwhile, retailers said the price of food at checkouts would soar 4.5% in the second half of the year due to "green" taxes on packaging on top of the increases in national insurance and minimum wage.