Money-saving expert Martin Lewis has weighed in on Rachel Reeves' unveiling of the Labour party's Budget plans. On Wednesday (October 30), the Chancellor of the Exchequer, referring to her past experience, said, "As a former economist," before announcing a slew of changes including a new tax on vapes and adjustments to employers' national insurance contributions. The Finance Minister's first Budget also outlined a plan that would see £40 billion in tax hikes and an increase in the State Pension for 2025-2026.
She later added that there would be a £1bn boost for special educational needs funding, a tripling of investment in breakfast clubs, and a 1.5 percent rise in government spending. Taking to social media, the 45-year-old politician emphasised that her party was making "tough decisions to fix the foundations" of Britain's economy to "deliver on the promise of change".
In reaction to the Labour Budget, Martin Lewis , aged 52, shared his thoughts on X, the platform formerly known as Twitter . As Reeves spoke, he tweeted: "Chancellor: 'As a former economist at the Bank of England' - Bingo". PA Media reports that Reeves worked at the Bank of England from 2000 to 2006, which included a period at the British Embassy in Washington D.
C. The Bank of England acknowledged her contribution to a December 2001 speech by the then-chief economist Charlie Bean, reports the Express . Martin's "Bingo" quip has sparked a flurry of debate among his followers, with one social media user askin.