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WATCH: Mel Stride says Labour's 'crazy employment legislation' is driving people out of Britain
Nov 19, 2025
Sir Mel Stride has said Labour's "crazy employment legislation" is one of the key reasons a record number of Britons have left the UK since Labour came to power.Speaking to GB News, the Shadow Chancellor laid blame on Rachel Reeves and the Government for their "choices" which have led to the "current economic environment" in the UK.FULL STORY HERE.
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0:00
Good morning, Annie. Morning. What is your reaction to these inflation figures this morning
0:04
Fallen for the first time since March, so small bits of good news here for the Chancellor
0:10
Well, it is good, of course, that the headline rate is coming down a bit. It has to be said
0:15
that we are still the highest rate of inflation in the G7 this year, according to the IMF
0:20
and will be next year. And, of course, within those inflation numbers, food inflation has
0:25
actually gone up by from 4.5% to 4.9%. So many people going to their
0:31
supermarkets and reaching the checkout are going to continue to be in for a
0:35
nasty shock I'm afraid. And this is because of the government's policies. It's the government's choices that have led us here in terms of additional
0:43
taxation on businesses being passed through to higher prices and of course
0:47
borrowing and spending vast amounts of money that is keeping inflation higher
0:51
than it otherwise would have been. I don't know how people may have money to spend for Christmas. I really don't. Between staff costs going up, we have to pay for all
1:01
of that as well. Food prices going up. It just makes it a very, very expensive time of
1:06
year. It really is, Eamon. The saddest thing of all is that there is a viable alternative
1:15
to this, which is what we have set out, which is to get on top of government spending. If
1:20
If you get on top of government spending then you have the space to start getting
1:24
taxes down, particularly taxes on business and if you do that of course that is a
1:29
downward pressure on inflation and it makes it easier for everybody as well as
1:33
growing the economy and supporting jobs. Shadow Chancellor, where do you stand on
1:38
what reform UK are proposing? They are saying get the foreign aid budget down and
1:44
that will make a big difference to public spending. We set out in our
1:50
party conference billion worth of savings and included a two thirds cut in the overseas development budget But critically the biggest saving of all of course is on welfare getting billion worth of savings out of
2:06
welfare. What reform is saying is they want to spend more on welfare
2:11
for example by scrapping the two-child limits, that is the benefit cap relating to the number of children that will be supported through the
2:20
benefit system. We think it is not right that taxpayers should pick up the
2:24
bill for large families for those on benefits. Reform disagree with that
2:30
I am afraid that is not the right policy and it is not going to help
2:34
hardworking people up and down the country. What is your reaction to these official figures out this morning showing a record number of
2:40
Britons have left the country in the year after Labour was elected. We are
2:45
talking about a quarter of a million British nationals. I think it is
2:52
indicative of the kind of economic environment in particular business environment we have got here in the UK. We know that around 16,000 very
3:02
high net worth individuals have left our country and they have gone to
3:06
places like the United Arab Emirates and Monaco, Milan, etc. that have a
3:10
much more favorable tax regime. Some people may say who cares about
3:15
about them? Well, we should do because the tax that they have been paying will require
3:20
probably between a third and a half of a million people on average earnings just to cover
3:25
the tax loss that has gone out the door. And the answer to this, Ellie, is to get taxes
3:30
over here down and get rid of some of these crazy employment legislation, this crazy employment
3:37
legislation that is coming down the line from this government as well, that just make it harder to create businesses, to create jobs, to have a vibrant economy. And that's a critical
3:47
part of the story as to why too many people that we really actually want to be staying
3:51
here to help the economy are actually leaving
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