Robert Jenrick has warned that he is ‘absolutely terrified’ Britain is heading for a debt crisis ‘unless Rachel Reeves changes course very quickly’. ‘That will be a financial crisis of a scale akin to what we experienced in 2008,’ he warned. ‘That will mean tens of thousands of homeowners potentially facing the repossession of their homes, thousands of people being made homeless, thousands of small businesses facing debt repayments they just cannot handle.’

This crisis, he predicted, is ‘coming in the next 12 months’, and the Conservative response to it must be that ‘the state is too large and we have to cut it… above all else in welfare.’ Labour, he argued, could not make even small changes to benefits and it would be down to ‘a centre-right government after the next election’ to tackle

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