Rachel Reeves, having empowered the Office for Budget Responsibility in a bid to bolster Labour's credibility, is being hoist on her own petard. Reeves, in response to the 0.1 per cent downturn in output in January, says the 'world has changed'. It certainly has since Donald Trump launched his blitz of 'peace-making' initiatives and unleashed a tariff war. All that happened after January, so it is no more than excuses from Reeves. Her suggestion that the sustained increase in defence spending will deliver for working people is hooey.