Reeves is the UK’s Chancellor of the Exchequer.
Prime minister Starmer says Reeves has his full confidence and will remain in office for at least the rest of the current parliament.
The background to Prime Minister Starmer’s pledge of support is:
- Fiscal worries are hitting the pound hard once again.
- There are rumors about the future of Chancellor of the Exchequer Rachel Reeves and the UK government is in damage control.
It comes after Reeves was crying in Parliament following a U-turn on to cuts in welfare. The lack of an appetite for fiscal austerity has the market worried about government finances.
This article was written by Eamonn Sheridan at www.forexlive.com.
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