Ryanair chief attacks Reeves' tax plans as profits soar to record 2.5bn

""The way to grow is not by increasing entry taxes, which is what APD is," he said. "Eventually even a dumb Labour government will work out that for an island on the periphery of Europe, the way to grow - and the way to increase tax revenue - is to get tourists on to the island first and then tax them.""

""Rachel Reeves is on the wrong path," he said. "The UK economy is, under the current leadership, doomed. I hold very little faith in Rachel Reeves or the current economic strategy of the Labour government." "You are not going to grow the UK economy by taxing wealth or by taxing air travel," he said. "You need to reverse those taxes as quickly as possible.""

Michael O'Leary launched a harsh attack on Chancellor Rachel Reeves, blaming her tax policies for 'dooming' the UK economy and expressing little faith in the government's economic strategy. He warned that taxing wealth and increasing air passenger duty (APD) will deter investment, harm tourism and business, and weaken growth. O'Leary urged immediate reversal of those taxes and said the path to growth is to attract tourists and then tax them. He used profanity to predict further mistakes. Ryanair reported record half-year results, with profits rising 42% to €2.54bn, pre-tax profits €2.89bn, revenue €9.8bn, and 119 million passengers.

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