Pound falls again and borrowing costs hit new high but Keir Starmer gives Rachel Reeves 'full confidence'

Rachel Reeves will remain in post "for the whole of this Parliament", Downing Street said, as the Chancellor faced criticism over an economic storm that saw the Pound lose further ground against the Dollar and the cost of long-term Government borrowing hit a new high on Monday.

British 30-year government bond yields jumped to a fresh 27-year high, extending a gilt market sell-off into a second week in a fresh blow to the Chancellor.