Reeves and Keir Starmer Humiliated and Mocked as UK Entrepreneurs Face Worst Mood in 40 Years

The UK is already in a recession because of Rachel Reeves’ “disastrous” budget, according to Luke Johnson, chairman of Gail’s Bakery. Johnson says business owners are more pessimistic than he has seen in 40 years, while the Chancellor tries to boost the economy.

“Nothing has gone well, and almost everything they’ve done has failed,” Johnson told GB News, commenting on Labour’s first six months in power.

He criticized the government, saying, “I think they’re a disaster. I know they inherited a tough situation with high taxes, debt, and interest rates. But now I’m sure we’re heading into a recession in 2025, and we might already be in one.”



Prime Minister Keir Starmer and Chancellor Rachel Reeves met with business leaders today. Labour’s first few months have been rocky, especially after a sharp rise in bond yields to 4.82%, which increased government borrowing costs. Nearly 11,000 millionaires have also left the UK to avoid higher taxes.

Johnson added, “The mood among business owners and investors is the worst I’ve seen in 40 years.”

He agreed with Starmer’s warning that the economy will get worse before it gets better, predicting the recession will last up to 18 months.



Johnson compared the UK’s situation to the US, where the new president has brought optimism and confidence. He said, “In the US, the new government is encouraging investment and job creation. But here, the government is adding 150 pages of new rules for businesses, which will hurt small and medium-sized companies without large HR teams. This won’t help create jobs.”

He warned, “We’ll see fewer jobs, lower taxes, and the government won’t meet its growth targets.”