No 10 insists Reeves’s authority not dented by reshuffle after market jitters
Rachel Reeves’s authority did not take a blow with the shaking of Sir Keir Streetmer’s downstating team, and he did not insist on trying to calm any 10 market tremors.
The government’s financial rules continue to “Demirclad commitment, and the Prime Minister’s official spokesman emphasized the increase in long -term government borrowing costs.
The reorganization of this week has seen that the Chancellor Assistant Darren Jones played a new role as the Prime Minister’s Chief Secretary – Many saw it as an attempt to draw the siered chancellor to address the economy.
Sir Keir also brought Minauche Shafik, a former British Governor Bank as Chief Economic Advisor and as the Chief Special Secretary of York-Smith, former Senior Senior Treasury official.
The restructuring is seen as a sign that the Prime Minister tries to support 10 economic firepower before a difficult budget this autumn, and speculation on tax increases.
In his statement to the prime minister spokesman, Sir Keir and Mrs. Reeves said during the summer, how to support these changes to the growth agenda.
When asked whether the role of Mrs. Reeves decreased, “No, as I said, the determination of strengthening the relationship between the Prime Minister and the Chancellor, the determination to direct the growth in the economy is a recommendation for our strong financial rules.” He said.
Due to the increasing concerns about the British finance, the speculation that has grown that it should announce major tax increases in the budget comes before it is expected to have a difficult for a few months for the chancellor.
The Downing Street showed that the Budget Liability Office (OBR) has not yet been given a 10 -week notification to provide an independent estimation in front of the budget, and that it would not be before mid -November.
The return on the British government bonds, also known as GILTS, has increased to the highest level in 5.698 percent since 1998, that is, the government’s borrowing from financial markets was more expensive.
Pound also fell on Tuesday morning, 1 percent decreased $ 1.34 and 0.6 percent lower € 1.15 €.
Without commenting on certain market movements, Sir Keir’s spokesman said: ız Our commitment to our solid financial rules continues.
“Since the beginning of this government, you will see that we have made the necessary decisions to balance public finances and encourage growth.
“Our financial strategy was supported by IMF et al., And our approach has helped to cut interest rates five times since the election, which is the best way to reduce borrowing costs and inflation.”
When he entered the treasury, Mrs. Reeves determined two basic financial rules: the first to match daily expenditures to 2029-30 instead of borrowing and the second to be matched with tax revenues to reduce the economy as the share of the economy.
Analysts argued that the latest increase in GILTS was a sign that investors do not trust the treasury that the treasury will be bound to the debt rules.
Prime Minister spokesman, Mr. Jones, stabilizing the economy, investing in public services and an approach to the economy that reduces borrowing costs, “he stressed.
Sir Keir brought together senior ministers for the first cabinet meetings after summer holidays, and since the mini-study, what happened to the Prime Minister’s birthday.
Sir Keir, the cabinet “second stage” began, higher living standards, public services improvements and safer limits to help to provide a change in 10 operations, he said.
“He and the Chancellor will support the common approach to the growth agenda of these changes during the summer and will ensure a key factor when making decisions,” he said.
Conservative Leading Kemi Badenoch said the tremor “by shifting the intelligence Titanic“,” I don’t think this will make any difference. “
During a visit to Scotland, he talked to the journalists and said: orum I don’t know what this said about the confidence in the chancellor, but the fact that he took the Treasury Chief Secretary and put it in 10 does not inspire me because he is one of the people who do confusion. ”
According to his spokesman, Sir Keir, who was 63 years old today, prevented his cabinet colleagues from trying to tell him happy years.
