Labour Faces Backlash Over UK Market Meltdown

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Labour Faces Backlash Over UK Market Meltdown
ECONOMYMARKETSLABOUR PARTY

Chancellor Rachel Reeves faces mounting criticism from MPs and business leaders as the UK economy continues to struggle. The Pound has weakened against the US dollar, government borrowing costs have spiked, and economists warn of further economic challenges. Critics blame Reeves's controversial budget for fueling inflation and undermining growth.

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The Chancellor will make a statement in the Commons following her controversial trip to China over the weekend.

Ministers were offered some relief this morning as better news from the Middle East helped calm markets, with gilts stabilising and the Pound clawing back a little ground on the dollar. The Pound sliding against the US dollar and interest on government borrowing spiking. Pictured, the interest rates on 10-year gilts

Downing Street scrambled to quash that furore later by confirming she will be in post until 2029 - a commitment previously given to Foreign Secretary David Lammy. The PM refused to rule out a package of emergency spending cuts in March to balance the books. No10 confirmed that the Treasury was also considering the case for further welfare reforms to save money.'That is a very important thing that we've said throughout.'

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