Martin Lewis hits out at Rachel Reeves over claim in brutal one-word response

Rachel Reeves has delivered her debut Budget as Chancellor of the Exchequer and it's safe to say Martin Lewis was not impressed

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 asking: "Fixing the foundations next? " Another chimed in: "Didn't take long did it? " "Definitely a job for you sir," a third fan suggested, while another was puzzled: "Not sure what you mean by 'Bingo' here."

One follower probed deeper: "Are you saying that it's a good thing that the chancellor was an economist with the BofE or that she has been caught out for not being entirely honest for suggesting that is the case? " Martin has been actively sharing his Budget insights with his 3.1 million X followers, noting: "That's over an hour already - this is a very LONG #budget."

He also clarified his professional status in relation to the new Office for Value for Money (OVfM): "New head of 'Office for Value for Money' appointed... No it's not me (thank heavens)," the ITV star posted. After the Chancellor wrapped up, Lewis declared he would take time to "digest" and "fact check" the speech, before guiding his fans through the essential consumer finance points.

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