Keir Starmer and Rachel Reeves, in happier times (Image: Getty)
Rachel Reeves is clinging on by her fingertips. Not because Starmer believes in her, but because he needs her. The party is in disarray and, as ever, the rot starts at the top. Starmer won the party leadership by being all things to all people, but now he means nothing to nobody. He posed as a Corbynite to secure the backing of Labour’s lunatic fringe, while simultaneously cosplaying as a Blairite to attract the centrists.
During the general election he faked it again, this time by presenting himself as competent, honest and a man of integrity, while lying through his teeth. He pledged not to raise taxes on “working people”, claimed ignorance of the £22bn “black hole” in the public finances, and promised to back business, farmers and even WASPI women, all of whom he swiftly betrayed.
Starmer stayed quiet about scrapping the winter fuel payment, selling out the Chagos Islands, handing British fishing rights back to the EU, and much more.
After a string of humiliating U-turns, voters, Labour MPs and party activists have had enough. Imagine what it must be liked to actually work with such a man. Chancellor Rachel Reeves doesn’t have to imagine. She knows. It’s been a pretty grisly experience for her, and it’s only going to get worse.
Nowhere is Starmer’s fundamental cynicism clearer than in how he’s treating his Chancellor.
Read more: ‘Angela Rayner puts UK on brink – could detonate full-blown financial crisis’
Read more: ‘Rachel Reeves lied straight to state pensioners’ faces – it’s unravelling fast’
The two were said to be thick as thieves. As far as taxpayers are concerned, thieves is the right word. They’ve already imposed £66billion of tax rises, vastly exceeding the £8.5billion hinted at during the election, while completely trashing the economy. As Reeves blows through her fiscal headroom yet again, there’s a strong chance another raid is coming in the autumn Budget.
Starmer thought he’d chosen a brilliant Chancellor. Didn’t she practically run the Bank of England before turning to politics? He’s clearly not so impressed now. One controversial Budget might have been bad luck. But her second was sheer chaos.
Tthe job of writing the Budget handed to sweary, tax-obsessed whippersnapper Torsten Bell, then filtered through a team of prime ministerial advisers. Unfortunately, those advisers were chosen by Starmer himself, and were rubbish. As we’ve seen, spotting talent isn’t his strength.
Since then, Reeves has been quietly sidelined. She wasn’t even allowed to accompany Starmer on his recent trip to China, a visit supposedly about promoting British business.
Officials are reportedly trying to block her from delivering the Spring Statement on March 3. They want Reeves out of sight and out of mind.
Yet Reeves is more resilient than many assume. She still believes in herself, interestingly, and doesn’t take kindly to being shoved aside. She will deliver that Spring Statement, unless she’s removed from Number 11 first.
Ironically, the Peter Mandelson crisis has thrown her a lifeline. Starmer already has enough problems. Having sacrificed one key ally, Morgan McSweeney, to save his own skin, he can’t afford to throw another to the wolves just yet.
There’s another reason Reeves remains useful. She’s loyal, partly because she’s the only senior Cabinet minister as unpopular as him. She isn’t plotting, because she’s got no chance of the top job herself. Her only ambition is to survive.
I’ve written before that Starmer is using Reeves as a human shield, deflecting gunfire that would otherwise be aimed directly at him. Right now, he needs her more than ever.
So she stays. At least until the PM falls. Which might be at any moment.
