UK's Starmer backs finance minister Reeves after tears in parliament
Tears rolled down Reeves' face after Starmer declined to guarantee that she would remain in place until the next general election, likely in 2029.
It came after his Labour government U-turned over key welfare spending cuts, wiping out a multibillion-pound boost to public finances and triggering speculation that Reeves could lose her job.
The pound slumped more than 1 per cent against the dollar on Wednesday and London's stock market retreated amid the speculation.
Britain's Chancellor of the Exchequer, Rachel Reeves. File photo: Reuters
A spokeswoman for Starmer later told reporters that Reeves had his 'full backing', while a spokesman for Reeves said she had been upset due to a 'personal matter'.
'The chancellor is going nowhere. She has the prime minister's full backing,' Starmer's press secretary said.
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