Keir Starmer refused to guarantee Rachel Reeves' job security amidst financial market turmoil in the UK. Traders pushed borrowing costs higher and the Pound weakened against the dollar. Analysts predict spending cuts will be necessary due to the economic chaos. Starmer stressed the government's adherence to fiscal rules and emphasized the potential of AI for savings and growth.
Keir Starmer refused to guarantee Rachel Reeves is safe in her job today as financial markets battered the UK again.
The PM stressed that the government will 'stick to the fiscal rules' and argued that adopting AI can save large sums for the public sector and drive growth. Keir Starmer have a speech this morning insisting mass deployment of AI can save the taxpayer huge sums The interest rate on 30-year gilts also hit fresh 27-year highs, up five basis points at 5.5 per cent, although it later settled closer to 5.41 per cent.
Tory leader Kemi Badenoch said: 'The Prime Minister just refused to back his Chancellor staying in her job.'The markets are in turmoil and business confidence has crashed, yet the Chancellor is nowhere to be seen.' 'We think the national insurance increases are going to feed through into inflation, we're going to have a lower growth rate, but also, because of things like the Employment Rights Bill coming along, you're going to find people laying people off and less likely to employ.'
Mr Jones wrote: 'Growth is the only way that we can deliver better outcomes in public services, without raising taxes on working people and is our primary mission for this Parliament. Panels made up of experts from outside Government are set to be brought into every department in order to bring perspective on how taxpayer's money is being spent and how to best use it.
'It is absolutely right for the Chancellor of the Exchequer, for the chief economic voice in the United Kingdom, to go and to beat the drum for British business and for investment in the United Kingdom. In his speech, Sir Keir said there would be 'teething problems' with the use of AI but the technology had the potential to revolutionise public services.
FINANCIAL MARKETS UK ECONOMY RACHEL REEVES KEIR STARMER SPENDING CUTS
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