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Richard discusses UK borrowing on Newsnight

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Thursday, 3 September, 2026
  • Westminster News

On Newsnight this Wednesday, Richard spoke about the Prime Minister focusing too much on being a “people pleaser” rather than having a credible plan.

He added:

I pointed out that Labour's inability to face hard economic choices or to say 'no' to their backbenchers on ballooning welfare payments means borrowing is forecast to INCREASE by £500 billion over this Parliament.

Labour's mismanagement of the economy and refusal to rule out ever more borrowing has already spooked the bond markets with the result that the cost of long-term borrowing has risen to levels not seen for decades.

The Prime Minister clearly wants to be liked, but leadership involves taking difficult decisions and not simply saying 'yes' to every vested interest that grabs his attention. He needs to grasp the nettle, reduce spending and recognise that the British taxpayer has no appetite, and no spare capacity, to bail him out with even more tax rises.

The Prime Minister looks to the past. Kemi Badenoch looks forward. Kemi knows the importance of having a credible plan to deal with the cost of living, maintaining fiscal discipline across government and creating the environment so our businesses and our economy can grow.

You can watch his comments at https://youtu.be/dTmYpSEnwcc?si=yy16lIScY9bhdGSm

 

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