'She's been caught out!' Rachel Reeves 'U-turn' torn apart by Tory MP after unveiling growth plan: 'Doesn't deliver for the people'

He highlighted that 92 per cent of businesses have indicated they lack confidence to increase employment under current conditions.

"You can't suddenly do a U-turn today because she's been caught out and expect these to deliver for the British people for many years to come," Holmes said.

The shadow minister described it as a "mix of strategy," arguing that Reeves had been caught out with a budget that "doesn't deliver for the people".

The Chancellor today had refused to publish her tax returns despite previous Labour commitments to transparency.

When questioned by GB News Political Editor Christopher Hope, Reeves dismissed the idea, stating: "Chancellors and Prime Ministers haven't published their tax returns in the past and I haven't got any plans to do so."

However, just hours later, Reeves U-turned again and later confirmed her decision to publish her tax details, aligning her with the Prime Minister's transparency pledges.

Asked about his verdict on the Employment Rights Bill, Holmes claimed that it will "increase the burden on businesses" and makes "people less likely to take people on".

He explained: "People have generally good working conditions in this country. Small employers are responsible people. Big employees are responsible people.

LATEST DEVELOPMENTS:

• 'Whatever means necessary!' Khan vows to BLOCK Reeves's growth plan as Starmer faces Heathrow revolt
• Rachel Reeves vows to 'fight' amid mounting pressure over economy as she admits Budget had 'costs'
• Lower Thames Crossing gets green light as Reeves vows to deliver better roads for taxpayers

"What this bill does is stop economic growth, stop employment by people taking on people, because people are concerned about the burden that's being placed on them in this bill, but also in taxation, also in a lack of growth and a lack of investment in the economy."

Disagreeing with Holmes, Labour MP for Peterborough Andrew Pakes defended the party's approach, citing local support for economic reforms.

"One of the reasons people rejected the Conservatives in Peterborough at the last election was because people were fed up with all of the burden of change being placed on working people," Pakes told GB News.

He noted that nearly a third of his constituents face chronically insecure and low-paid work.

"There's something broken about our economy, it's about fixing the foundations. We knew coming in there it was going to be difficult," he said.

Pakes acknowledged the challenges ahead, adding: "Those difficult choices were made to get stability and it now needs to be matched with the growth we're talking about so we get the jobs and investment in place."

Following her tax return comments, Reeves also unveiled new economic growth plans, including support for major airport expansions.

The proposals back development at Heathrow, Gatwick and Luton airports.