US EditionUK PM gives full backing to Reeves after tearful appearance in parliament
- Chancellor Rachel Reeves appeared in tears during Wednesday's Prime Minister's Questions amid last-minute U-turns on welfare reform in the House of Commons.
- The government scrapped key welfare reform measures just 90 minutes before a critical vote to avoid a Labour backbench rebellion, wiping out almost £5 billion in planned savings.
- These reversals undermined Reeves' plan to fund spending through tax receipts, coinciding with soaring borrowing costs and a nearly 1% fall in the pound's value.
- Prime Minister Keir Starmer's office confirmed Reeves has his full backing and will work from Downing Street, while Conservative leader Kemi Badenoch criticized her, saying she looked 'absolutely miserable' and questioned her future.
- The welfare policy reversals mean the government will need to find alternative ways, such as increasing taxes or reducing expenditures in other areas, to ensure the budget remains financially stable amid political and economic challenges.
82 Articles
82 Articles
«Clearly yesterday I was affected...». With these words, the UK Minister of Economy, Rachel Reeves, justified this Tuesday, as she resumed her agenda, the tears she shed on Monday during the question session of the Prime Minister in the House of Commons, which not only captured headlines but caused the fall of the pound sterling. Her sudden departure from the hemicycle, visibly excited, had been anything but ordinary.
British bonds saw their biggest sell-off since October 2022 and the pound plummeted. The markets also reacted violently when British Finance Minister Rachel Reeves cried after Labour Prime Minister Keir Starmer avoided a direct answer to a question from the Conservative opposition on Wednesday whether the minister would stay in her position until the election. A day earlier, the government significantly reduced its originally announced plans to …
The rumour of a potential ejection of the government has swelled after a viral sequence where we see Finance Minister Rachel Reeves in tears in Parliament this Wednesday. Keir Starmer, Prime Minister, denied his departure.
UK finance minister Rachel Reeves has been crying in the House of Commons – and has been causing fierce reactions, even in the markets. Labour politicians are now responding to speculation.
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