Chancellor Rachel Reeves has sought to reassure the markets following the pound experiencing its biggest fall in more than 18 months.
The second in command to the chancellor, Darren Jones, is out and about this morning speaking to media following the hostile market reaction to the budget.Yields for 10-year UK bonds - the cost or interest rate charged for long-term government borrowing - have gone past 4.5% for the first time in a year, and so we started by asking Mr Jones if there are any nerves.
He told us that markets respond 'in the normal way', and that 'a lot of new information about the economy and the nation's finances' was presented to parliament at the budget on Wednesday, so 'it's normal for markets to respond'.'The key point is the first line of the Labour Party manifesto was about bringing fiscal and economic stability back to Britain.'We've done that with this budget,' he said.
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