While the majority of Labour figures rallied around Chancellor Rachel Reeves on Tuesday as she defended her plans against a backdrop of economic uncertainty, some MPs privately expressed concerns and compared her situation to former PM Liz Truss. Despite a show of support during her Commons statement, whispers of potential vulnerability linger, with some advocating for caution against further spending cuts.
The majority of Labour figures rallied around Reeves on Tuesday as she defended her plans against a backdrop of economic turbulence
Other MPs, however, backed the Chancellor in her role and dismissed suggestions she could be vulnerable as ridiculous. They admitted, however, that they were “very worried” that Reeves might now have to introduce extra spending cuts because of the bond market turbulence. “I hope that doesn’t happen,” they said.
And she came under pressure from Labour MP and former shadow chancellor John McDonnell who warned against further spending cuts.
ECONOMY LABOUR PARTY RACHEL REEVES BUDGET BOND MARKETS
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