What happened
Reeves under pressure
Rachel Reeves pledged on Tuesday to go “further and faster” to boost economic growth, as she came under pressure over her handling of the public finances. The Chancellor’s Commons statement followed a week of turbulence in the bond market that pushed the UK’s borrowing costs to a 27-year high. The Tories accused Keir Starmer of lacking confidence in Reeves after he declined, at a press conference, to say whether she would still be in her post at the next election. No. 10 later insisted that she would.
Government borrowing costs have risen worldwide owing to concerns about stubbornly high inflation, which have led investors to seek a higher rate of return on bonds. The rise has particularly affected the UK, where the value of the…
