Politics latest: Starmer refuses to back his tearful chancellor Rachel Reeves in extraordinary PMQs

Till lunchtime right this moment, it appeared that humiliated Keir Starmer was the most important political sufferer of the federal government’s welfare U-turn. The extraordinary and piteous sight of chancellor Rachel Reeves in tears within the Commons has modified that.

She rightly deserves sympathy for the massive private toll the welfare revolt has clearly had on her. From the moment Labour was elected, Reeves has staked every thing on balancing the nation’s books and filling the Conservatives’ “£22bn black gap”.

Nonetheless, the welfare rebellion by her party has blown an additional £5bn gap in her plans, making it unimaginable for her to maintain her pledge of no additional tax rises. The truth that greater than 100 of her MPs had been ready, in impact, to deal with her and her technique with contempt, forcing her to tear it up, was a sufficiently big blow to her shallowness.

The SNP Westminster chief has expressed help for Rachel Reeves after the chancellor cried throughout PMQs.

In a submit on X, Stephen Flynn MP stated: “Like nearly all MPs I don’t know why the Chancellor was upset within the Chamber right this moment, however I do hope she is okay and again to her duties this afternoon.

“Seeing one other particular person in misery is all the time very tough, and we’re wishing her properly.”

Downing Avenue stated Sir Keir Starmer “completely” has confidence in his personal judgment.

Requested the query by reporters, the prime minister’s press secretary stated: “Sure completely. It is a prime minister who within the opposition picked the Labour Celebration off the ground, turned it round and secured the mandate that we acquired final yr.

“It is a prime minister who… is taking a phased strategy to authorities. The primary section is fixing the foundations, together with the £22 billion black gap the Tories left, invested document quantities within the NHS and delivered double the quantity of appointments that we dedicated to within the election, frozen gas obligation… and now we’re delivering equity and safety by our plan for change.”

The Impartial’s political editor David Maddox stories:

Rachel Reeves’ tears all over PMQs have been the speaking level of a day the place the federal government seems to be spiralling uncontrolled after the welfare reform debacle.

It emerged that the chancellor had an altercation with Speaker Sir Lindsay Hoyle on her manner into the chamber.

Now it’s being recommended that the rationale for the Speaker’s ire was that Ms Reeves and her crew slowed down Treasury questions on Tuesday to attempt to reduce the scrutiny.

Neither facet has formally commented on the supposed argument.

Our Voices Editor Victoria Richards writes:

Think about being Rachel Reeves, for a second. You might be sitting within the Home of Commons, surrounded by your friends; there to assist defend your authorities’s choices on welfare reforms after nights of heavy in-fighting and riot.

The burden of being the primary feminine chancellor in British historical past lies heavy in your shoulders; your already watered-down plans to make financial savings with welfare cuts, much more so. I need to not crumble, you may inform your self.

Learn the complete remark piece under:

Robert Jenrick has launched a brutal social media video saying Rachel Reeves’s “profession is lifeless”, simply two hours after the chancellor was seen crying on the Commons frontbenches.

Talking as he tore up a replica of the federal government’s welfare reform invoice, following final night time’s chaotic U-turn, the shadow justice secretary stated: “Rachel Reeves’ advantages invoice is lifeless and so is her profession.”

He added: “She’s been humiliated by her personal backbenches and compelled into her most embarrassing U-turn but. By her personal metric, she’s crashed the financial system, she’s misplaced the arrogance of the markets, and now it appears she’s misplaced the arrogance of the prime minister too. It is time for Reeves to go.”

UK authorities bond costs fell by essentially the most since October 2022 and the pound has tumbled after Rachel Reeves was seen in tears throughout PMQs.

The chancellor has repeatedly emphasised her dedication to fiscal guidelines, limiting the quantity Britain will borrow, and, analysts stated, the market strikes mirrored fears that she would get replaced, creating much more uncertainty.

The yield on the 10-year authorities bond, or gilt, rose as a lot 22 foundation factors on the day at one level, to 4.681%, as buyers ditched UK debt.

That might be the biggest one-day leap within the British benchmark yield since October 2022, within the aftermath of Liz Truss’ chaotic fiscal announcement that value her premiership.

The selloff hit the complete gilt curve. Thirty-year yields rose almost 22 foundation factors, and 2-year yields rose 11 bps.

Sterling dropped by greater than 1% towards the greenback, set for its largest one-day decline since mid-June and in addition weakened sharply towards the Euro.