Starmer’s chronicles

I dont know if it specifically mentions that, but there is an article here on the pound falling and borrowing costs increasing.

https://www.bbc.co.uk/news/articles/cx2l99eegzpo

Borrowing costs have surged sharply, and the pound has fallen after a tearful appearance by Chancellor Rachel Reeves in parliament.

[nomadking]

Originally Posted by Hugh

Where is that being reported, please?

Borrowing costs jump and pound falls on Chancellor's tears

Borrowing costs have surged and the pound has fallen after a tearful appearance by Chancellor Rachel Reeves in parliament.
Reeves was at Prime Minister's Questions on Wednesday following the government's U-turn on plans to cut billions of pounds through welfare reforms.
Markets reacted after her emotional state sparked speculation about her position in government.

Link

XTB analyst Kathleen Brooks commented: “The sharp rise in bond yields happened during PMQs, the leader of the opposition asked the Prime Minister if he would confirm if Rachel Reeves would remain as Chancellor.

To be fair, Starmer could never had said anything else. Same for any other PM in that situation.

[papa smurf]

Originally Posted by Hugh

Where is that being reported, please?

i saw it on a news channel not sure which one
but it seems it was only £3 billion

Rachel Reeves crying: Shades of Liz Truss as pound freefall wipes £3bn off markets
Tears in the Commons led to turmoil in the markets as Rachel Reeves's emotional moment sent shockwaves through the UK economy, leaving many in suspense.

https://www.express.co.uk/news/uk/20...ng-live-shades

Originally Posted by papa smurf

i saw it on a news channel not sure which one
but it seems it was only £3 billion

Rachel Reeves crying: Shades of Liz Truss as pound freefall wipes £3bn off markets
Tears in the Commons led to turmoil in the markets as Rachel Reeves's emotional moment sent shockwaves through the UK economy, leaving many in suspense.

https://www.express.co.uk/news/uk/20...ng-live-shades

Phew…

A bit of a recovery when Starmer backed Reeves…

https://www.telegraph.co.uk/business...arkets-latest/

Bond market reaction has ‘enhanced’ Chancellor, say investors
Rachel Reeves’s position as chancellor has been made more secure by the sharp reaction in bond markets to questions over her future.

Will Walker-Arnott, a director at wealth manager Charles Stanley told BBC Radio 4’s Today programme: “This is a rare example of financial markets actually enhancing the career prospects of a politician.

“The markets were concerned that if the Chancellor goes then any fiscal discipline would follow her out the door and that would mean bigger deficits, more gilt issuance and so, obviously, gilt yields went up.”

[nomadking]

Originally Posted by Hugh

Phew…

A bit of a recovery when Starmer backed Reeves…

https://www.telegraph.co.uk/business...arkets-latest/

From the graph in the link, borrowing costs are still higher than they were at the beginning of the week.

[Pierre]

Proof that she's not up to the job, if ever it was needed

[papa smurf]

I think she's flogging a dead horse every thing she tries to do Starmer u turns on, most of her ideas hurt people, she needs a good rethink.

[denphone]

Originally Posted by Pierre

Proof that she's not up to the job, if ever it was needed

Whether she is up to the job remains to be seen but that is no excuse for the poisonous personal bile on most of the front pages of the newspapers this morning.

[papa smurf]

Originally Posted by denphone

Whether she is up to the job remains to be seen but that is no excuse for the poisonous personal bile on most of the front pages of the newspapers this morning.

unless you're one of the people who lost money over this episode, she should have possibly give PMQ's a miss


meanwhile
Two senior Labour MPs have suggested the prime minister may have to go within months if the government continues to perform poorly.

https://news.sky.com/story/starmer-p...onths-13391677

[daveeb]

Originally Posted by papa smurf

unless you're one of the people who lost money over this episode, she should have possibly give PMQ's a miss


meanwhile
Two senior Labour MPs have suggested the prime minister may have to go within months if the government continues to perform poorly.

https://news.sky.com/story/starmer-p...onths-13391677

I don't remember you complaining when Liz Truss and her sidekick Kwasi were weaving their magic wands on the economy.

[papa smurf]

Originally Posted by daveeb

I don't remember you complaining when Liz Truss and her sidekick Kwasi were weaving their magic wands on the economy.

sorry to hear you're memory is failing

That the markets recovered when it was clear she was staying probably means she is in a stronger position now than before.

The bigger problem is that Labour is looking like it literally cannot govern even with its majority because the party is unmanageable. There is no willingness to make difficult decisions from the backbench MPs. There were reports that an MP from the new intake was moaning in the halls of the commons that they don't understand why the u-turn on benefits means tax rises and/or no lifting of the child benefit cap because 'it's only a few billion'.

That said, the leadership picked the worst possible fight for cuts and managed it poorly.

[Mr K]

Any Chancellor post Brexit has my sympathy. Our trade self destructed, with an ageing increasingly non working population. Sometimes the public need to take reality check, and some responsibility themselves. Politicians aren't magicians.

[Itshim]

Originally Posted by papa smurf

unless you're one of the people who lost money over this episode, she should have possibly give PMQ's a miss


meanwhile
Two senior Labour MPs have suggested the prime minister may have to go within months if the government continues to perform poorly.

https://news.sky.com/story/starmer-p...onths-13391677

My guess is that the Welsh assembly election could well deliver a killer blow if they lose that , the end for him is nigh

[papa smurf]

Originally Posted by Damien

That the markets recovered when it was clear she was staying probably means she is in a stronger position now than before.

The bigger problem is that Labour is looking like it literally cannot govern even with its majority because the party is unmanageable. There is no willingness to make difficult decisions from the backbench MPs. There were reports that an MP from the new intake was moaning in the halls of the commons that they don't understand why the u-turn on benefits means tax rises and/or no lifting of the child benefit cap because 'it's only a few billion'.

That said, the leadership picked the worst possible fight for cuts and managed it poorly.

the markets were worried who might replace her