AS Shadow Chancellor and MP for Central Devon, I’m acutely aware of the economic pressures facing our local communities.

From small businesses in Ashburton and Bovey to farmers around Crediton and Okehampton, people in our community are feeling the strain of rising costs and uncertainty.

That’s why it’s more important than ever that we offer a responsible economic alternative to the reckless proposals from Reform and the concerning economic path Labour is heading down.

Last week, Sir Keir Starmer rightly described Nigel Farage’s economic policies as “fantasy economics,” a term I’ve used myself in recent weeks to describe Reform’s approach to the nation’s finances. But simply calling it out is not enough.

We must also take responsibility for providing a viable alternative - one that is grounded in reality and addresses the real needs of people here in Central Devon and across the country.

Reform’s economic platform isn’t just implausible - it’s dangerous. Their plan combines large tax cuts with vast new spending commitments that don’t add up.

Take their pledge to raise the personal allowance by £7,500. This alone would cost more than the entire UK defence budget.

They also propose significant tax cuts for businesses that could cost billions annually - far more than the sum they claim.

Farage insists that these measures can be funded by scrapping Net Zero, citing a report whose authors have rejected his interpretation.

This is not a plan for Britain - it’s a Farage mirage.

If we were to follow such a course, we would see higher borrowing, rising interest rates, and a loss of credibility with international markets.

This is particularly concerning for areas like ours, where businesses rely on stable interest rates and financial security to thrive.

The consequences would be felt across Central Devon, with people seeing higher costs for mortgages, loans, and everyday living.

While Reform’s proposals are fundamentally flawed, Labour’s economic strategy isn’t without its own serious issues.

Labour’s Chancellor, Rachel Reeves, has already changed fiscal rules to allow her to borrow more.

Public borrowing last year was far higher than expected under the last Conservative budget, and the reality of Labour’s fiscal mismanagement has led to emergency measures, like the March budget crisis.

Locally, we’re seeing how these economic choices are affecting our communities. With rising inflation, families in Central Devon are already struggling to make ends meet.

Labour’s proposals to reverse the two-child benefit cap, costing an additional £3.5 billion in welfare spending, will add to the taxpayer burden and make it even harder for families to get ahead.

At the same time, Labour’s claims of “putting more money in your pockets” don’t match the reality of their budget forecasts, which predict household incomes under huge pressure over the coming years.

In Central Devon, where many families rely on a stable income from local businesses and agriculture, these policies would put even more pressure on the cost of living.

This is why we need leadership that is focused on long-term solutions, not quick fixes.

We need a government that will invest in local communities, improve public services, and ensure that businesses here have the confidence to invest and grow.

Local people want a government that is serious about managing the nation’s finances responsibly - not one that promises the earth and fails to deliver.