Chancellor Rachel Reeves Faces MP Scrutiny

Chancellor Rachel Reeves is set to address MPs amid rising market turmoil and speculation surrounding her future in the role after her recent trip to China. Critics from the opposition parties have accused her of abandoning her responsibilities during a week marked by volatility in the pound and rising UK bond yields. Although Prime Minister Keir Starmer expressed confidence in Reeves, he refrained from guaranteeing her position until the next general election, prompting Downing Street to confirm she would remain Chancellor for the entirety of the current Parliament. Reeves defended her trip, stating that agreements made in China would yield £600 million for the UK over five years. As concerns grow about the government's fiscal stability, the Chancellor faces pressure to outline a 'plan B' to address the economic challenges. The situation is compounded by a recent poll showing Labour's slim lead over the Reform party, reflecting the political stakes involved.