Rachel Reeves is primed to hinder growth, not encourage it, says Nigel Farage

It's a horrible truth to have to face but almost everybody in Britain is feeling the pinch.

Individuals are being paid less than they were a generation ago in real terms. At the same time, money doesn't go as far as it used to because the cost of living has accelerated so rapidly.

And businesses - particularly small and medium sized ones - face more overheads and bureaucracy than ever before. The upshot is that families, enterprise, communities and, ultimately, the country are worse off.

And that's before Rachel Reeves' Doom Budget this week. Furthermore, over the past 25 years most people's quality of life has been systematically lowered.

The reason for this is simple: public services have failed to keep up with the demands placed on them by the UK's soaring population.

Official statistics suggest there are now close to 69 million people living in Britain. The true number may be even higher. That's an increase of about 10 million in the past 20 years.

Most of those who have come here are low-skilled workers who take out of the economy more than they put into it. Only last month the Office for Budget Responsibility admitted in a report that mass low-skilled immigration is a financial disaster for Britain.

No nation could possibly accommodate so many newcomers without significant investment in its infrastructure. Yet successive governments - Labour and Conservative - have allowed these millions of people to settle here without thinking through the consequences.

We are all living with the effects of this disastrous approach. Schools, hospitals and roads are worse than ever. Now that we are in this hole, how do we get out of it?

As the country steels itself ahead of Reeves' Budget on Wednesday, I add my voice to the chorus who say that no government can tax its way out of a crisis such as the one Britain faces today. History shows that it is ridiculous to pretend otherwise.

The only way to improve the situation is via wealth creation. Countries that are successful find a way to grow their economies out of trouble. That means lower, sensible regulation and fair taxes.

Keir Starmer spent the election campaign claiming that growth would be at the heart of his government's agenda. Yet four months in, we can see that Labour has already handed billions to unions and public sector employees and - one way or another - is gearing up to tax most of the "working people" it promised to protect.

Unless major reform takes place immediately, we will be heading towards financial and social disaster. I believe that a change of culture is required. Too many people seem to think that the state can pay for everything. That attitude is ruinous.

It should not be indulged. Make success fashionable again. Instead, we must create an environment in which people who work hard and make money are seen in a positive light. These are virtues. They lead to self-reliance. They should be celebrated rather than resented or punished.

Risk-taking by small and medium business owners must be rewarded by making risk pay. That should mean lower taxes for bosses who recruit and retain good staff to help broaden their business, or who seek to expand their firm by buying new premises or investing in other ways such as training.

It should also means less state interference overall so that businesses can be more efficient. Prosperity breeds prosperity. If the economy is allowed to grow faster, more tax revenues will be generated leading to greater investment in public services.

But life is a two-way street: the public sector has a duty to make more taxpayers' money go further by cutting waste. This would also be good for communities and for the country.

Worryingly, it looks as though Chancellor Reeves is on course to fall into the classic Labour position of taxing and regulating more, hindering growth at every level. Thousands of professional and entrepreneurial people have left Britain since Labour got into power in July.

If the Budget is as dire as forecasters warn, more of these talented self-starters will follow over the coming months. Without the best and the brightest, Britain will struggle to cope under the immense weight of its ever-expanding population.

Unless the Labour Government changes course, with major reforms at every level, I'm afraid to say I think disaster awaits us. Rachel Reeves cannot say she hasn't been warned.