Skip to main content
Donate to the 95 years appeal
‘Doom loop’ looming as Reeves axes regulator
Chancellor of the Exchequer Rachel Reeves at the Confederation of British Industry (CBI) conference at the QEII Centre, London, November 25, 2024

CHANCELLOR Rachel Reeves risks pushing Britain into an economic “doom loop,” a top economist warned today as uproar broke out over the sacking of a top regulator.

Former Bank of England chief economist Andy Haldane told Sky News that “it would be deeply counterproductive to both growth and to the fiscal position” if the Chancellor’s plans “led to a cutting back on investment and indeed in spending more generally.”

“Then I think you really are into a doom loop between debt and growth. And that’s a situation to avoid at all costs,” he warned.

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
Empty seats in the auditorium as shadow chancellor Sir Mel Stride makes a speech during the Conservative Party Conference at the Manchester Central Convention Complex, October 6, 2025
Tory Party / 6 October 2025
6 October 2025
People wave flags as Prime Minister Keir Starmer delivers his keynote speech during the Labour Party Conference at the ACC Liverpool, September 30, 2025
Britain / 2 October 2025
2 October 2025
Reform UK leader Nigel Farage reacts to the speech by Prime Minister Sir Keir Starmer at the Labour Party conference, during a photocall at the Reform UK headquarters in Westminster, London, September 30, 2025
Reform UK / 2 October 2025
2 October 2025
Conservative Party leader Kemi Badenoch giving interviews to the media after a speech at the Institute of Chartered Accountants' Hall, central London, September 9, 2025
Climate / 2 October 2025
2 October 2025
Similar stories
Chancellor of the Exchequer Rachel Reeves speaks with the media at the Rolls-Royce factory in Derby, May 15, 2025
Economy / 22 May 2025
22 May 2025
Protesters demonstrate as Chancellor Rachel Reeves is about
Britain / 26 March 2025
26 March 2025
Labour accused of ‘balancing the books off the backs of the poor’ in spring spending statement
Chancellor of the Exchequer Rachel Reeves during a meeting a
Britain / 20 March 2025
20 March 2025
Chancellor of the Exchequer Rachel Reeves makes her keynote
Britain / 16 October 2024
16 October 2024