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The Guardian - UK
The Guardian - UK
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Rafael Behr

Rachel Reeves’s economic vision is coming into focus – a year too late

Rachel Reeves at the GMB union conference in Brighton, 10 June 2025
Rachel Reeves at the GMB union conference in Brighton, 10 June 2025. Photograph: Simon Walker/HM Treasury

A government this young should not look so old. Keir Starmer has not yet celebrated his first anniversary in Downing Street, but the government already moves with the plodding gait of a caretaker administration.

There were painful stumbles at the start. The cut to winter fuel payments for millions of pensioners was announced within a month of the general election. Now, in the face of overwhelming opposition, it has been largely reversed. Meagre savings to the exchequer were procured at an exorbitant price in political capital.

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