Piers Morgan has taken aim at Chancellor Rachel Reeves in the wake of a brutal economic blowout, slamming her over a spiralling borrowing crisis. The outspoken broadcaster, 60, didn’t hold back, posting on X: "Jeez… Ms Reeves has some explaining to do.." after fresh figures revealed the government massively overshot borrowing expectations. Piers was reacting to a post from the Institute of Fiscal Studies which said: "New ONS figures out today show that government borrowing for the financial year just past was £152 billion.

This is £15bn higher than was forecast at the Spring Statement only last month, and £65 billion, or 75%, higher than was forecast in March 2024." A chart included in the post added: "borrowing this year is higher than was expected at the recent Spring statement, and much higher than forecast last March." The staggering figures have sparked fears Reeves may be forced into either raising taxes or making even deeper cuts to public services, as the UK economy struggles to keep its head above water.

According to the Office for National Statistics, total borrowing for the year ending in March hit £151.9bn – over £20bn more than the year before.

A large part of the overshoot came in March alone, where borrowing shot up £14.6bn beyond what the Office for Budget Responsibility had predicted just weeks earlier alongside the chancellor’s spring statement.

Now experts are warning Reeves might not be able to stick to her “self-imposed fiscal rules” unless she unveils more painful cuts or tax hikes in the autumn budget.

It comes just weeks after she announced controversial changes slashing benefits for the sick and disabled, and cutbacks to public services in a bid to claw back £9.9bn of fiscal headroom.

But Reeves is also battling pressure from abroad. Since Donald Trump’s dramatic re-election and tariff-driven trade war, the cost of UK debt has surged – with Britain now facing higher interest payments due to global financial jitters.

The International Monetary Fund didn’t mince words either, declaring Trump’s return had triggered a “major negative shock” to the world economy. Reeves is due to face her global counterparts this week at the IMF’s spring meetings in Washington.

It’s far from the first time Piers has blasted Reeves. Just last month, he hit out after it was revealed she accepted £600 freebie tickets to a Sabrina Carpenter concert while enforcing cuts across government departments.

"Rachel Reeves helping herself to expensive freebie concert tickets whilst slashing benefits for millions of the poorest members of society is such a bad optic, only worsened by her pathetic ‘security’ excuse," Morgan posted.

The backlash came hot on the heels of revelations she had previously accepted £7,500 worth of clothing while in opposition – prompting a pledge from Reeves to stop accepting freebies.