Reeves Faces Market Wobbles and UK Ministers Wanting More

Fears chancellor’s spending plans won’t fix public services
Bond selloff abates but post-budget reaction points to limits

Rachel Reeves triggered a bond selloff with her budget, but the Chancellor of the Exchequer still faces pressure from Labour ministers to boost public spending.Photographer: Hollie Adams/Bloomberg

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By Ellen Milligan, Alex Wickham, and Ailbhe Rea

November 2, 2024 at 6:00 AM UTC

Updated on

November 2, 2024 at 8:54 AM UTC

This article is for subscribers only.

Amid the selloff in UK bonds this week triggered by Chancellor of the Exchequer Rachel Reeves’ budget plan to ramp up taxes, borrowing and spending, there were jitters in Labour’s cabinet — but for a different reason.

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