Skip to content
Politics — Finance — **Stay Safe in the Skies**

FTSE 100 hits 10,000 as economists dismiss Chancellor Reeves’ victory claim

A historic market surge—yet experts call it hollow. Behind the FTSE 100’s triumph, Britain’s stagnant jobs, weak retail, and political backlash paint a grimmer picture.

,   and  Administrator
2 min read
As we can see in the image there is train, railway track, cars, current poles, trees and sky.
As we can see in the image there is train, railway track, cars, current poles, trees and sky.

FTSE 100 hits 10,000 as economists dismiss Chancellor Reeves’ victory claim

The FTSE 100 has passed 10,000 points for the first time, marking a historic moment in early 2026. Chancellor Rachel Reeves quickly claimed credit for the milestone, but economists and political rivals dismissed her statements as misleading and out of touch with Britain’s economic struggles.

The index reached the landmark figure in January, following a steady rise throughout 2025. Analysts, however, pointed out that the gains were driven by global market trends rather than UK economic strength. The FTSE 250, which tracks mid-sized British companies more closely tied to domestic performance, lagged far behind the FTSE 100’s growth.

Reeves faced immediate criticism for her attempt to link the achievement to government policy. Economist Julian Jessop called the FTSE 100 a weak indicator of economic confidence, noting its heavy reliance on multinational firms. Clive Black, another analyst, condemned her 'dire performance' and 'administrative incompetence', referencing her handling of the late November Budget. Opposition figures joined the backlash. Conservative business spokesman Andrew Griffith labelled Reeves 'delusional' and accused her of 'clutching at straws'. Shadow Chancellor Sir Mel Stride highlighted rising unemployment and stagnant growth, arguing her self-congratulation ignored worsening conditions. Meanwhile, recent data showed ongoing strain in manufacturing and high street retail, further undermining her claims. No individual or group has been identified as making late claims on the Friday the milestone was reached. The index’s surge came amid broader global market optimism, with little evidence linking it to UK-specific factors.

The FTSE 100’s record high stands in contrast to Britain’s economic challenges. Reeves’ attempt to take credit has been widely rejected by experts and political opponents. With manufacturing under pressure and retail struggling, the milestone offers little comfort for the UK’s domestic economic outlook.

Read also:

Related

Latest