Rache, How's Your Groth Plan Going?
Labour's market meltdown 'could trigger 1976 level crisis': Reeves told to cancel China trip as investors 'flee the UK over Stagflation fears and Budget raid' with Pound falling and borrowing costs surging again
Sterling tumbled to its lowest level against the US dollar for over a year this morning as investors heaped more risk premium on UK gilts - the way the state finances its activities. Economists warned that with growth stalling and 'sticky' inflation Ms Reeves will struggle to balance the books unless she cuts spending or hikes taxes again.
The Treasury has insisted Ms Reeves views her fiscal rules, including balancing day-to-day spending by 2029, as 'non-negotiable'.But the Chancellor refused to come to the Commons to answer an urgent question on the borrowing costs this morning - instead sending her deputy Darren Jones.
MPs shouted 'where is she' as Mr Jones argued that the markets were functioning in an 'orderly way'.
https://mol.im/a/14266815
I must say that Rache From Accounts🙍🏻♀️is not looking so cocky now, is she?😆
Sue Hammond ● 63d0 Comments