"The Chancellor had been due to take part in a "fireside chat" at the City's global risks summit on Tuesday morning, following a Cabinet meeting, but the Treasury confirmed she would no longer attend. She was replaced by junior minister Lucy Rigby. No official reason was given for the change, though the decision comes at a moment of heightened political tension in Westminster, with questions mounting over the Prime Minister's future following weak local election results and reports of internal dissent."
"Reeves was present at Downing Street earlier in the day but declined to answer questions from reporters as she arrived at 11 Downing Street. Her withdrawal comes as speculation intensifies over the stability of the government's top leadership, with reports that several senior ministers have privately raised concerns, even as others publicly rally behind Sir Keir. Following an emergency Cabinet meeting, four senior figures - Liz Kendall, Peter Kyle, Pat McFadden and Steve Reed - were said to have expressed support for the Prime Minister."
"However, the political uncertainty has coincided with renewed turbulence in the bond markets, where investors have reacted nervously to shifting expectations around fiscal policy and leadership continuity. Yields on long-term UK government debt rose sharply again on Tuesday morning, with 30-year gilts climbing as much as 13 basis points to 5.807pc before easing slightly. Ten-year yields also moved higher, though they remain below recent peaks."
"Rising gilt yields increase the cost of government borrowing and are closely watched as a barometer of investor confidence in economic and political stability. Ministers close to the Chancellor have reportedly argued that any leadership change at this stage could risk further destabilising already fragile markets, ac"
Rachel Reeves withdrew from a scheduled City of London appearance at a global risks summit and was replaced by junior minister Lucy Rigby. No official reason was provided for the change. The timing coincides with heightened political pressure in Westminster, including questions about Prime Minister Keir Starmer’s future after weak local election results and reports of internal dissent. Reeves was at Downing Street earlier but did not answer reporters. Political uncertainty has coincided with renewed turbulence in bond markets, with long-term gilt yields rising sharply. Higher yields increase government borrowing costs and serve as a gauge of investor confidence in economic and political stability.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]