UK finance minister Reeves retains position despite market turmoil By Investing.com

Investing.com – Despite recent market turmoil, Rachel Reeves remains safe as Chancellor of the Exchequer, according to Cabinet Office minister Pat McFadden, a close ally of Prime Minister Keir Starmer.The UK’s financial landscape has been shaken in recent days, sparking speculation about the future of the country’s Chancellor of the Exchequer :

In an interview with Times Radio on Monday, McFadden confirmed Reeves’ position. “Rachel Reeves is chancellor for a good reason because she’s the right person to do the job.” saying: “Yes, I have.”

Reeves has come under increasing scrutiny as the global bond slump has weighed heavily on the UK’s borrowing costs, raising doubts about the government’s fiscal sustainability. .92%, a peak not seen since the 2008 global financial crisis.

The pound has also been hit, leading to questions about whether Reeves will take any political action to remedy the situation.The chancellor is expected to return to the UK on Monday. for the government to stick to its own fiscal rules.

This article is powered by AI and has been reviewed by an editor. See our T&C for more information.