Reeves Hails Fiscal Rules as Starmer’s Backing Calms Markets

Chancellor of the Exchequer Rachel Reeves stressed her commitment to fiscal discipline in her management of the UK’s public finances after reassurances about her position from Prime Minister Keir Starmer led jittery markets to rebound on Thursday.

A smiling Reeves was speaking a day after a tearful appearance in Parliament stoked a market selloff amid concerns that the chancellor — who enjoys a reputation for economic discipline — might be about to lose her job following a costly government U-turn on welfare reform. She put her crying down to a “personal issue,” while Starmer said she’d be in post for “many years.”