Chancellor Rachel Reeves faces backlash after budget leads to economic turmoil in UK

Chancellor Rachel Reeves faces criticism after her first Budget in October led to economic turmoil. Rising inflation and high interest rates have diminished business confidence, prompting fears of tax increases or spending cuts, which could harm Labour's standing. The bond markets are reacting negatively, with yields on UK government bonds reaching their highest since 2008. Investors are wary of Labour's fiscal management, questioning the sustainability of its spending plans amid a stagnant economy. Labour's initial promise of economic growth has faltered, with the party now struggling to maintain stability. The situation has raised concerns about the potential impact on Labour's future, as public sentiment shifts amid economic challenges.