{"id":41208,"date":"2025-01-15T00:39:22","date_gmt":"2025-01-15T00:39:22","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=41208"},"modified":"2025-01-15T00:39:22","modified_gmt":"2025-01-15T00:39:22","slug":"failing-british-prime-minister-starmer-refuses-to-guarantee-that-rachel-reeves-will-remain-chancellor-amid-bond-yields-rising-high-inflation-and-a-sinking-sterling-pound","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=41208","title":{"rendered":"Failing British Prime Minister Starmer Refuses to Guarantee That Rachel Reeves Will Remain Chancellor Amid Bond Yields Rising, High Inflation and a Sinking Sterling Pound"},"content":{"rendered":"

\"\"<\/p>\n

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British Chancellor Rachel Reeves and Prime Minister Keir Starmer.<\/figcaption><\/figure>\n

British Prime Minister Keir Starmer is failing in many different aspects of governing, but right now, the economic woes are becoming so severe that they are becoming more concerning than the social turmoil or even the damaging investigations of corruption against Tulip Siddiq, the UK\u2019s Minister of State for Economic Crime and Corporate Transparency, accused, along with her family, of taking bribes of up to \u00a34 billion related to a Russia-funded nuclear power plant deal in Bangladesh.<\/p>\n

The UK is facing economic turmoil, with bond yields up at a 25-year high, which increases government borrowing costs, and domestic inflation at 2.6%, above the Bank of England\u2019s target.<\/p>\n

Add to that the weakness of the sterling pound, and the import costs and inflation fears are rising \u2013 potentially leading to higher interest rates.<\/p>\n

\n
<\/div>\n<\/div>\n

High debt servicing costs might force a \u2018Sophie\u2019s choice\u2019 between tax increases or spending cuts, slowing economic growth. While all that is happening, the Chancellor (Finance Minister) Rachel Reeves sees her future thrown into doubt by the Prime Minister.<\/p>\n

Yesterday (13), Starmer twice refused to guarantee that Reeves would remain Chancellor at the next election.<\/p>\n

\"\"
The British economy is in a tailspin under Starmer.<\/figcaption><\/figure>\n

The Telegraph reported:<\/p>\n

\u201cHis spokesman was later forced to insist that the Chancellor would be kept in post, but the Prime Minister\u2019s comments prompted one Labour MP to privately call for her to be sacked if the situation does not improve. There is speculation that Ms. Reeves could be replaced by Pat McFadden, the Chancellor of the Duchy of Lancaster who is often described as the de facto deputy prime minister, or Wes Streeting, the Health Secretary.\u201d<\/em><\/p>\n

Starmer also appointed Olaf Henricson-Bell as director of policy in a blow to Reeves\u2019 authority.<\/p>\n

\u201cThe Conservatives accused Sir Keir of using the Chancellor as a \u2018scapegoat\u2019 for the dire state of the economy, while Reform UK said she was merely implementing \u2018his economic agenda\u2019.\u201d<\/em><\/p>\n

Conservative MP Gareth Davies, shadow financial secretary, on X:<\/strong><\/p>\n

\n

In the first half of last year, our economy was on a positive trajectory with growth up and inflation down.<\/p>\n

Since then, Labour\u2019s Budget has undermined confidence with lower growth and higher inflation.<\/p>\n

The Chancellor urgently needs to get a grip and change course before the\u2026 pic.twitter.com\/Kd2JLdA9L7<\/a><\/p>\n

\u2014 Gareth Davies MP (@GarethDavies_MP) January 14, 2025<\/a><\/p>\n<\/blockquote>\n

Richard Tice, deputy leader of Reform UK, on X:<\/strong><\/p>\n

\n

Back from her pointless trip to China, the Chancellor refused to answer my simple question:<\/p>\n

When will the British economy start growing again? pic.twitter.com\/n6t78oxIWJ<\/a><\/p>\n

\u2014 Richard Tice MP (@TiceRichard) January 14, 2025<\/a><\/p>\n<\/blockquote>\n

Reeves is under growing pressure over the sad state of the economy\u2019s public finances, with oil prices at a six-month high and the pound at a new 14-month low.<\/p>\n

\u201cThe refusal to offer a guarantee set hares running in Westminster, because Downing Street had shown its support for David Lammy, the Foreign Secretary, when facing similar questions last year.\u201d<\/em><\/p>\n

Starmer refused to say \u2018yes or no\u2019 to whether Ms Reeves would still be Chancellor at the next general election.<\/p>\n

\u201cHe merely said: \u2018That is why I am confident in our mission for growth and I am confident, completely confident, in my team. We never pretended, nor would anybody sensibly argue, that after 14 years of failure you can turn around our economy and our public services before Christmas\u2019.\u201d<\/em><\/p>\n

\"\"
Will the \u2018Incredible Shrinking Premier\u2019 sack his Financial Minister?<\/figcaption><\/figure>\n

One Labour MP told the Telegraph \u2018off the record\u2019 that Starmer should sack the Chancellor if she has not stabilized the economy by the summer.<\/p>\n

\u201cThe backbencher said that \u2018questions are going to start to be asked\u2019 about the Chancellor\u2019s future if she does not demonstrate that she has the \u2018capabilities to take our country forward\u2019 in the coming months. They added: \u2018If by June we do not see the kind of economic decisions being made which are believed to be able to drive our country forward, stabilize our economy and to protect our public services\u2026 then I think people will want greater scrutiny over whether or not she has got the capability to be able to secure our economy for the longer term\u2019.\u201d<\/em><\/p>\n

The Prime Minister\u2019s official spokesman was forced to insist that Reeves would still be Chancellor at the next general election \u2013 which is, frankly, unlikely.<\/p>\n

Read more:<\/strong><\/p>\n

\n

Musk Says British Prime Minister Starmer \u2018Starmtrooper\u2019 Is Blocking Grooming Gangs Inquiry Because He Is \u2018Hiding Terrible Things\u2019<\/a><\/p>\n<\/blockquote>\n

\n
<\/div>\n<\/div>\n

The post Failing British Prime Minister Starmer Refuses to Guarantee That Rachel Reeves Will Remain Chancellor Amid Bond Yields Rising, High Inflation and a Sinking Sterling Pound<\/a> appeared first on The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

British Chancellor Rachel Reeves and Prime Minister Keir Starmer. 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