Labour Party has lost its mind - left will descend into madness this week and YOU will pay

As Labour gathers in Liverpool, Britain could hardly be in a worse state. Unfortunately, everything Labour delegates say and do will only make matters worse. PM Keir Starmer has no answers, while ministers will offer half-hearted pledges they barely believe in, and will never happen anyway because Labour can't get anything done.

But it's the delegates who worry me. The party's left-wing think they do have the answers, and will shout them from the floor and fringe. The problem is they're all fantasy politics, and will spread fear among already rattled businesses, taxpayers and bond markets. They're the ones who will foot the bill for the madness now engulfing Labour.

Britain is already on the brink of recession. If the left gets its way, we will hurtle into the abyss at a speed even Chancellor Rachel Reeves can't engineer.

Businesseses are being squeezed, high street shops are struggling, pubs are closing, unemployment is rocketing, borrowing costs are soaring, wealthy people are leaving and the left simply doesn't care.

It hates business, hates wealth, hates landlords, hates austerity, hates the bond market that finances the state and really, really hates the idea of balancing the books.

Instead of fixing the damage, activists want more borrowing, more tax, more spending.

Unite boss Sharon Graham, the left's darling, told The Daily Telegraph how she wants us to follow Germany, which is easing its debt rules to raise £1trillion to rearm against Vladimir Putin.

Graham goes all dreamy about that sum, but she doesn't want to spend it on defence. "Can you just imagine that figure? £1trillion to deal with infrastructure diversification. Decarbonisation."

She doesn't mention that we already owe £3trillion. Or that servicing our debt mountains costs us £110billion a year, double the defence budget.

And will go through the roof if we try to increase our debt pile by a third. I'm not even sure she understands that debt has to be paid back. The left doesn't, as a rule.

Naturally, Graham dreams of a wealth tax too, claiming the top 1% per cent paying more would raise £25billion.

In reality, wealth taxes take years to design and have failed almost everywhere. But that doesn't matter. So long as they can bash the rich.

The man who would be Labour's king, Andy Burnham will chip in with his own fantasy economics: a 50% tax band, rent controls, wholesale nationalisation and junking Reeves's fiscal rules to borrow at will. Last week's intervention may cost us £1billion as bond costs soared in response to his nonsense.

John McDonnell, shadow chancellor under Jeremy Corbyn, is completely detached from reality. He wants food price caps, an exit tax on investors and yet more rent controls and unbelievably, claims this would "steady" the markets.

In reality, the reverse would happen. Gilt yields are already at a 27-year high. If we listened to McDonnell, they'd soar to the stars.

Madness has gripped Labour. Reeves already faces a black hole of up to £50billion in November so what does Labour attack her for? Not spending enough.

Global investors will watch the chaos unfold. The OECD has cut UK growth forecasts to just 1% next year and says inflation will be highest in the G7.

Yet instead of discussing practical ways to revive the economy, Labour will spend the week brawling, posturing and promising the impossible. While insulting the people who will fund their unhinged plans - businesses, taxpayers and bond investors.

Reeves and Starmer may be useless, but this week they'll be the only half sane people in the hall. If they're pushed out, Labour will plunge into madness, and take the country with it.