Rachel Reeves, the self-proclaimed Iron Chancellor with the economic finesse of a bingo caller on hooch, has done it again.
£143 billion in missed IPOs and relocations, vanishing faster than her grasp on basic economics. Her much-hyped “securonomics” now looks about as secure as a crisp packet in a thunderstorm.
Wise has just wised up and bolted to New York £11.4 billion gone. Klarna? Klar-nope. Revolut? Revoluted. And Shein? She-gone. The London Stock Exchange is haemorrhaging listings under Labour like a colander in a swimming pool, and Reeves is still clapping herself on the back like she’s cracked the code.
Her idea of attracting investment is apparently to tax it, scare it, insult it, then watch it flee while she gives a TED Talk about “resilience.” You could have more luck raising capital in Pyongyang.
The truth is, Reeves could walk into a room full of billionaires and walk out with an overdraft. She talks about building confidence in the markets while treating wealth creators like an invasive species.
Her economic plan reads like the IKEA instructions for a guillotine vague, misaligned, and guaranteed to cause damage.
While Reeves drones on about “public good” and “fair contribution,” real businesses with real money are running for the exits, suitcase in one hand, Nasdaq contract in the other.
The only sector booming under Labour is the removals business carting our industries off to more sane jurisdictions.
And as for her cheerleaders still chanting “Trussonomics” like it’s a get-out-of-jail-free card we’re two Prime Ministers and £143 billion down the line.
This is Reeves’ mess now. She promised growth and delivered ghosts. The City is turning into an economic graveyard, and all she’s offering is another rebrand and a painfully awkward photocall.
Labour’s legacy so far? A giant “closed for business” sign nailed to the front door of British enterprise.
Offshore Advisory Group (OAG)
oagroup.co.uk