LABOUR’S Jonathan Reynolds has called for a General Election and branded the recent behaviour of the Government a “disgrace”.

Appearing on GB News this morning (SUN), Mr Reynolds said: “I don’t think anyone right now can say they’re getting what they want. The last three weeks have been a disgrace. No matter how you voted, you deserve a lot better than this. And frankly, this is not about what Tory MPs are plotting to do, or who’s taking over certain jobs in the government, it is about the fact that the damage has been done.

“Mortgages are now higher than they would have been were it not for this mini-budget, business investment will be lower because of what the government have done, and the government’s borrowing costs are higher because of what the government has done with consequences for everyone.

Arguing that the only way “logical way forward” is a general election, the Shadow Secretary of State for Business, Energy and Industrial Strategy of the UK added: “The mini-budget was clearly the start of this. The cost of government borrowing spiked by an incredible amount in the three trading days after those announcements were made. But the fact is, the damage has now been done. And I honestly cannot see how any conservative can turn this around. Of course, as a Labour MP, I want a general election.

“You’d expect me to say that, but political instability does feed into economic instability. So can they just simply change the Prime Minister every month without any regard for how this looks or what this means? Surely the only logical way out of this situation is a General Election. I’m pleased that some of the decisions will be turned around, but frankly, the damage has been done.”

Asked if upcoming changes by the new Chancellor could reverse the damage he believes has been caused, Reynolds continued: “Will mortgages be lower than they were? Will they go down from the average of 6% for a fixed rate right now? I don’t think that is the case.

“Once you lose confidence, you can’t just win it back as easily as you lost it. And this is what Conservative MPs have got to understand – there are real-world consequences for their incompetence, and they can’t simply pretend that this hasn’t happened or that somehow they aren’t responsible for it.

“What we need is a Government that isn’t committed to this ridiculous notion that if you do tax cuts for the well-off that trickles down to everyone. We need one that respects institutions and doesn’t sack civil servants who might disagree with them or disrespect the OBR and has a real plan.

“What business needs is not the Government getting out of the way, it’s a partner with long-term policy stability so they can invest for the long term. No one would suggest that this is what the Conservative Party is offering at the moment and again, it’s not about a change of Chancellor. They can’t simply reverse what they’ve done through something as straightforward as that, they can’t simply get around the fact that the Bank of England and the government have been in completely different places for the last month. They’ve got to recognise what they have done requires the chance for a real fresh start and that will require a general election.”