Downing Street has rejected Rachel Reeves’ suggestion that Donald Trump was responsible for Britain’s economic underperformance.
Reeves confronts a looming £20bn shortfall as the economy weakens.
Rachel Reeves faces a looming £20bn deficit in public finances, driven by soaring interest rates and weakening economic growth, economists at JP Morgan warn.
Budget tax hikes have pushed the economy into stagnation.
Rachel Reeves has been accused of “dragging the economy into stagnation” with her reference to a “£22bn black hole” in the public finances. Official data revealed that November’s growth fell
Rachel Reeves may keep pushing forward, but her fate is sealed
The Chancellor’s decision to travel to China while bond markets turn against Britain highlights a much larger issue, and it’s not a positive signal.
British Pound Plummets to Nine-Month Low as Government Borrowing Costs Surge
The British pound has fallen to a nine-month low amid a significant rise in government borrowing costs, pushing Chancellor Rachel Reeves close to breaching her own fiscal rules.
The pound will likely hit $1.35 next year, according to Goldman Sachs
Economists predict that the British pound will reach $1.35 next year, providing a favourable exchange rate for those converting currencies for holidays.