Rachel Reeves' rotten record laid bare in furious row: '1970s crash is coming!'

Rachel Reeves record on the economy has been exposed in a fiery clash over the UK's stagnant economy. In the latest episode of the Daily Expresso podcast, host JJ Anisiobi and guest James Walker clashed over the state of the country's finances amid fears of a 1970s-style economic crash.

French prime minister Francois Bayrou on Monday warned the country's parliament not to copy Britain's economic chaos as he failed to save his premiership. He issued his plea as the French Left called for higher taxes on the wealthy.

Speaking about the story, JJ Anisiobi asked Walker if it was right for the French to be trashing the UK economy.

Daily Express assistant editor James Walker said: "You look at Rachel Reeves' record, she's slapped the biggest tax hikes on Brits in 30 years. She's failed to cut inflation. NI tax is up, a tax on jobs. She's done absolutely nothing about huge public spending and this enormous benefits bill we've got.

"She's spooked rich people with tax hikes on the wealthy. And what's the result?"

Daily Expresso host JJ Anisiobi shot back: "Sorry, the French are no better. Gerard Depardieu and all these other people leaving the country. They're talking as if France is this utopia place."

"They're economy is not growing as quickly as ours is," he added. "Yes, we're in lots of debt; so are they! And you know why, because they don't want to work until they're 65 or 66.

"They are the lazy ones, and they're looking at us and saying 'don't be like the British!'"

Walker pointed out the UK 'shouldn't be jumping up and down about 0.3% GDP growth," adding that the Chinese economy was doing better.

"We are looking at a 1970s-style crash," he added. "Rich people are fleeing the country. Yes, the French can learn from our mistakes."

Several top economists have warned that Rachel Reeves' tax and spend approach is pushing the UK toward a 1970s-style economic crisis. Reeves may even have to borrow billions from the International Monetary Fund - which would make her the first chancellor to do so in 50 years.

Recent forecasts have also shown the UK has a £50bn blackhole in its economy, owing in part to excessive borrowing.

Mrs Reeves is expected to announce tax hikes in her Autumn Budget to fill the gap after Labour backbenchers rejected a package of welfare savings earlier this year.

UK national debt is expected to rise from £2.9trn in 2025/26 to £3.39trn by 2030.