LONDON — The UK is currently undergoing its most severe economic downturn since the Second World War, according to Rachel Reeves, the British Chancellor of the Treasury. This stark assessment comes amid the aftermath of the general elections that resulted in a change of government.

According to Burkina Information Agency, the difficult economic landscape is a culmination of years under Conservative Party leadership, which she criticized as a period of “chaos and economic irresponsibility.” Speaking via her X social network account, Reeves emphasized that the incoming government, now led by the Labour Party following their recent electoral victory, is set to inherit these challenging conditions. The general elections, held on July 4, saw Keir Starmer’s Labour Party emerge victorious, leading to a swift formation of a new government.