Add news
News Every Day |

Fury as Rachel Reeves defies backlash and arrives in China after ‘dragging Britain back to the 1970s’

Hypocrite Reeves should be SACKED over the mess her Budget made - she must cancel China trip to fix it, top Tory slams
REEVE IT OUT
Video Player is loading.
Current Time 0:00
Duration 1:23
Loaded: 2.29%
Stream Type LIVE
Remaining Time 1:23
 
1x
  • Chapters
  • descriptions off, selected
  • captions off, selected
  • en (Main), selected

EMBATTLED Rachel Reeves arrived in China today amid fury over a major debt crisis and a plummeting economy at home.

The under-siege Chancellor took off for Beijing last night as yields on UK bonds surged to their highest level since the 2008 financial crisis and far beyond the doomed Liz Truss era.

Reuters
Embattled Rachel Reeves has been slammed for jetting off to China amid a soaring debt crisis at home[/caption]

The Tories hammered Ms Reeves, suggesting that she be sacked over the fall-out of her October Budget.

One Cabinet colleague even privately accused her of having “lost the plot”.

This morning Shadow Business Minister Dame Harriet Baldwin blasted the Chancellor for having made things “substantially worse” for the economy.

Dame Harriet told Sky News: “In the first half of last year the UK economy was actually growing the fastest in the G7, so it was showing some very promising signs in the first half of last year.

“Unfortunately what happened after the election was that by talking very negatively about the UK economy and then by implementing this massive Budget, which has huge implications in terms of taxes on businesses which create the growth in the country, the Chancellor seems to have stalled that economic recovery.

READ MORE POLITICS

SCRAPPY NEW YEAR

Britain's biggest retailers demand Rachel Reeves outlines plan for growth

BUDGET JOB HIT

Rachel Reeves' tax raid on business sparks sharp decline in job vacancies

“The reality is that the choices that the Chancellor took in her Budget have made things substantially worse than the global picture for the UK.”

Despite calls for Ms Reeves to sort out her mess at home, this morning Cabinet Ministers publicly rushed to their colleague’s defence.

Culture Secretary Lisa Nandy insisted “we should not be worried” and said the Labour administration’s tax and spend rules are “non-negotiable”.

Getty
Labour are taking Britain back to the 70s, with strikes, spiralling debt and a struggling pound looming[/caption]

Ms Nandy told Sky News: “I don’t think we should be worried.

“It’s obviously something we take very seriously, but these are global trends that have affected many countries, most notably the United States, as well as the UK.

“We are still on track to be the fastest growing economy, according to the OECD in Europe.”

She added: “We’re not going to borrow for day-to-day spending.”

Defending the trip to China, the Culture Secretary said: “China is the second-largest economy, and what China does has the biggest impact on people from Stockton to Sunderland, right across the UK, and it’s absolutely essential that we have a relationship with them.

“We need to make sure that the UK economy remains competitive, we need to challenge where we must, including in the area of human rights, but we also need to make sure that we are working with China on those areas of shared interest.”

The Chancellor’s tax-hiking Budget, which hammered employers with a steep national insurance rise, was blamed for the market turmoil.

And Ms Reeves was last night warned that if she goes to the Far East she risks being the next Kwasi Kwarteng — Ms Truss’s Chancellor who infamously left the UK as the economy went into meltdown in 2022.

The warning came amid the threat of industrial action, like the strikes of 1978 and 1979’s winter of discontent, with teachers threatening to walk out.

Economists also raised the prospect of a 1976-style debt crisis “nightmare” of the kind that forced Jim Callaghan’s Labour government to go cap in hand to the International Monetary Fund for a bailout.

Shadow Home Secretary Chris Philp told our Never Mind The Ballots show: “I think the Chancellor should stay in the UK fixing the mess her Budget has created.

“Bond yields are higher than when Kwasi Kwarteng got sacked.

“The whole government should be fired, frankly, including Rachel Reeves, because they jacked up taxes, they crushed pensioners, they’re crushing farmers.

“They’re crushing businesses with their high taxes.

“And this is the result, because the bond market can see that our economy is being squashed by this Labour government.”

Word not her bond

By Ashley Armstrong

GOVERNMENT bonds are back in the headlines — in bad news for the economy and the Chancellor.

Rachel Reeves built her run-up to No 11 on the very promise she would be the safe opposite to Liz Truss’s market meltdown.

Comparisons to 2022’s gilt crisis are slightly overdone.

The bond sell-off has not been as sudden, or required the Bank of England to step in­ — yet.

But more worryingly, experts are comparing it to the nightmarish 1970s because the Pound is being punished as well.

It suggests global investors are taking a very dim view of Reeves’ Budget and the UK’s hopes of growth.

A weaker Pound means surging interest demands on ten year government bonds.

These are used by high street banks to price mortgages and suggest we will suffer more expensive home loans for longer.

Squeezed household finances will stifle spending and depress growth.

So much for Reeves’ promised “Securonomics”

Москва

Сезонная речная рыба появилась на рынках «Москва — на волне»

Реклама
Top 6 nutrition questions men should ask themselves after 40

To maintain health and remain full of energy, men will be helped by this

Phillips 66 and activist investor Elliott face off on a classic conglomerate quandary: Are the pieces of a huge company worth more together or broken up?

Gen Z is reviving this boring job that millennials and boomers abandoned—and it’s helping them land six-figure careers straight out of college

Chelsea ratings: Sancho shines but Palmer’s poor form continues and Jackson shows why Blues are looking for new strikers

Mike Tyson Didn’t Hesitate When Asked If He Will Fight Again 6 Months On From Jake Paul Loss

Ria.city
Реклама
  • ИП Попов А.П.
  • ИНН: 602715631406
Ревматолог: "14 апреля 2024 в г.Колумбус запущена квота"

Каждый человек с больными суставами имеет право получить...






Реклама
  • ИП Попов А.П.
  • ИНН: 602715631406
Ревматолог: "14 апреля 2024 в г.Колумбус запущена квота"

Каждый человек с больными суставами имеет право получить...


Реклама
  • ИП Попов А.П.
  • ИНН: 602715631406
В г.Колумбус начали выдачу средства для восстановления потенции

В аптеках г.Колумбус найдено средство, усиливающие потенцию в 29 раз! Им оказался обычный...

Read also

Inside a Military Patrol on America’s Southern Border

Buyer’s guide: Best smartphones to buy in Q1 2025

Maple Leafs defeat Hurricanes 4-1, move closer to Atlantic Division title

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Phillips 66 and activist investor Elliott face off on a classic conglomerate quandary: Are the pieces of a huge company worth more together or broken up?

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

Trump’s ‘punitive’ China tariffs could end trade between the world’s two largest economies—and that would be painful, volatile, and dangerous



Sports today


Новости тенниса
Вероника Кудерметова

Вероника Кудерметова разгромила Эррани и вышла в основную сетку турнира в Штутгарте



Спорт в России и мире
Москва

Росгвардейцы обеспечили безопасность проведения матча РПЛ в Москве



All sports news today





Sports in Russia today

Москва

В Челябинске матч КХЛ прошел под охраной росгвардейцев


Новости России

Game News

Age of Empires 2's quest to conquer the strategy globe continues unabated as The Three Kingdoms DLC invades ancient China this May


Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine

Реклама
Top 6 nutrition questions men should ask themselves after 40

To maintain health and remain full of energy, men will be helped by this

Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine

Russian.city

Реклама
Top 6 nutrition questions men should ask themselves after 40

To maintain health and remain full of energy, men will be helped by this


Москва

В Катав-Ивановске Росгвардейцы провели «Час Мужества» для воспитанников Центра помощи детям


Губернаторы России
Фидель Кастро

Портрет Кастро, подаренный Гагарину, впервые выставлен в Смоленске


Москвичи на стороне света: окна в пол обошли кухни-гостиные в списке приоритетов

Певца Олега Газманова эвакуировали во время фотосессии в Москве из-за пожара

На западе Москвы перекрыли улицу из-за прорыва трубы

Заказать Туринадрол 10 Бийск


Николай Цискаридзе пригласил ведущую балерину из Коми на экзамены

Художник Яковлев готов восстановить памятный портрет Цоя на Арбате в Москве

«Даже не мог говорить»: Николай Басков попал в больницу с сильным вирусом

Ротация на Радио Русский Шансон


Саснович вышла в основную сетку турнира WTA-500 в Штутгарте

Даниил Медведев на девятом месте ATP, Рублёв остаётся лучшим из русских

Медведев прокомментировал поражение от де Минора

Алькарас — новый чемпион Монте-Карло! Успел выиграть крупный турнир до возвращения Синнера


Реклама
Top 6 nutrition questions men should ask themselves after 40

To maintain health and remain full of energy, men will be helped by this


Сезонная речная рыба появилась на рынках «Москва — на волне»

«Желтый» уровень погодной опасности объявили в столичном регионе из-за тумана

Путешествие за нетривиальными знаниями в Waldorf Astoria Seychelles Platte Island

Певца Олега Газманова эвакуировали во время фотосессии в Москве из-за пожара


Граффити Паши Техника на Арбате: история вокруг стены Цоя в Москве

Ротация на Радио Русский Шансон

"Спартак" обыграл "Салават Юлаев" в овертайме и сравнял счет в серии

Обложка песни. Обложки альбомов песен. Сделать обложку для песни.


Технические проблемы стали причиной отмены рейса Ural Airlines из Карши в Москву

Россыпь наград завоевали калужанки на соревнованиях по фитнес-аэробике

Росгвардейцы обеспечили безопасность проведения матча РПЛ в Москве

В ДТП на Ставрополье пострадали пять человек


Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine


Путин в России и мире
Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine



Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine



Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine



Реклама
The most beautiful beach towns with cheap living

A huge number of people around the world dream of one day breaking out of the daily routine

Персональные новости Russian.city
Виктор Цой

Вандалы на Арбате: стена Цоя пострадала от фанатов Паши Техника



News Every Day

Phillips 66 and activist investor Elliott face off on a classic conglomerate quandary: Are the pieces of a huge company worth more together or broken up?




Friends of Today24

Музыкальные новости

Персональные новости