Reeves’ authority not dented by reshuffle, No 10 says in bid to calm markets

No 10 denied the reshuffle had dealt a blow to Chancellor Rachel Reeves’ authority (Matthew Horwood/PA) - (PA Wire)

Rachel Reeves’ authority has not been dealt a blow by Sir Keir Starmer’s shake-up of his Downing Street team, No 10 has insisted as it sought to calm market jitters.

The Government’s “ironclad commitment” to its fiscal rules remains, the Prime Minister’s spokesman emphasised against a backdrop of soaring long-term government borrowing costs.