Rachel Reeves's meagre offering and the one big problem with Labour's pitch

OPINION

“Change” was the vague promise Labour plastered on the side of its campaign bus last year. But where was that bus headed? Nobody knew. And judging by the view today, it hasn’t arrived anywhere meaningful. Ask a police commissioner, a headteacher, a small business owner, or a carer whether they’ve seen this promised change. Most will respond with a weary shrug. Of course they haven’t. They never do.

Chancellor Rachel Reeves’s Spending Review is the final chapter in a trilogy of economic letdowns. It leaves businesses disheartened, public service users frustrated, and taxpayers wondering where their money is going. It began with a Budget that slashed Winter Fuel Allowance for pensioners and hiked Employer National Insurance, moves that simultaneously hurt the vulnerable and dented business confidence and growth.

Then came the Spring Statement, which quietly admitted the damage: lower growth, higher debt interest, and tighter departmental budgets.

Now, the Spending Review confirms what many feared – spending practically flatlining after year one, and the hunt for the next round of tax rises has already begun.

Even in the NHS, where spending is genuinely rising, local health leaders tell me cuts are still inevitable. Demand is simply outpacing resources.

This might be tolerable if it were part of a bold, long-term vision. But it’s not. Labour’s pitch consists of “fiscal responsibility” and being more competent than Liz Truss. This not a high bar for a Government to aspire to. It is not bold leadership. it is mere management.

We need more than cautious accounting. We need courage.

That means fixing our broken social care system. Rebuilding our trading relationship with Europe to unlock growth. Making the tax system fair – so big tech, banks, and the ultra-wealthy pay their share. Without that ambition, “change” is just a mirage.

In trying to please everybody a little bit, Labour has found itself with few vocal supporters outside its Cabinet. We all know they inherited a mess from the Conservatives and that global conflict and Trump isn’t making things any easier.

But governments aren’t judged solely on what they’ve survived – they’re judged on where they’re going. And that’s the problem: Labour still hasn’t told us.

The country deserves a Government that confronts hard truths and acts boldly – not one content to simply steer the ship while it slowly sinks.

Bobby Dean is the Liberal Democrat MP for Carshalton and Wallington and a member of the Treasury Select Committee