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The Independent UK
The Independent UK
Henry Saker-Clark

Pound and gilts slump amid doubts over Chancellor’s future

Rachel Reeves Sir Keir Starmer United States US Dollar
Chancellor of the Exchequer Rachel Reeves (Jacob King/PA) - (PA Wire)

The value of the pound and long-term Government bonds slumped sharply after Sir Keir Starmer failed to back Chancellor Rachel Reeves.

Ms Reeves was visibly tearful in the House of Commons over a “personal issue”, as her position and Government credibility faced scrutiny after a U-turn on welfare plans.

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