"Reeves is the worst Chancellor since Denis Healey, steering the UK toward fiscal delinquency. Paradoxically, her departure would likely trigger something worse, guaranteeing a historic debt crisis. Changing the Chancellor now would undermine market confidence by signalling policy chaos. Markets punish uncertainty more than consistency, even when disagreeing with direction."
"This is the last chance saloon for Reeves, and the PM knows it. That's why he has surrounded himself with economic advisers, in case the markets turn against Reeves after the Budget. They have so far supported her as Chancellor, occasionally keeping her in check, but it is proving to be a tightrope between keeping the financial markets and the electorate happy, and I fear it's one"
"wort Chancellor for 50-years"
UK financial markets have weakened sharply since Rachel Reeves became Chancellor, with gilt yields and borrowing costs rising to multi-decade highs. The Chancellor has set the Autumn Budget for 26 November and acknowledged that "there's more to do." Gilt yields reached 5.7% on Monday and the pound fell over 1% against the US dollar, reflecting investor uncertainty. Some financial figures label Reeves the worst Chancellor since Denis Healey and warn that replacing her could trigger deeper market turmoil and a historic debt crisis. Others say the Prime Minister has added economic advisers to manage market reactions and preserve credibility.
Read at London Business News | Londonlovesbusiness.com
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