CHANCELLOR Rachel Reeves was accused of donning her tin foil hat today to announce the government’s intention to make Britain a “defence-industrial superpower.”

Communist Party of Britain general secretary Robert Griffiths said the Spring Statement confirms Labour’s aim to be the war-mongering party of the military-industrial complex.

Ms Reeves confirmed that spending plans to assist the unemployed, poor and disabled will be chopped by almost £5 billion, while military spending next year will rise by an extra £2.2bn. 

Overseas aid to the world’s most vulnerable people is being slashed while subsidies for British arms exports to overseas buyers are to be increased.

Mr Griffiths said: “Relying on the inefficient, greedy and corrupt arms industry to boost the economy is as barmy as relying on inefficient, greedy and corrupt property developers to meet people’s dire housing needs.

“Nor will taking an Elon Musk-style chainsaw to thousands of Civil Service jobs end economic stagnation and the threat of increased unemployment.”

He added that the government’s surpluses, deficits and so-called “headroom” of around £10bn are chicken-feed compared with the extra £50bn a year to be gained from a wealth tax on assets of more than £10 million.