Chancellor Rachel Reeves faces criticism for China trip during UK market turmoil

Chancellor Rachel Reeves faced criticism for her recent trip to China amid turmoil in the UK bond markets. Mel Stride, the Shadow Chancellor, called her visit "tone deaf" and urged her to reassure markets instead of being abroad during a financial crisis. Stride highlighted the significant increase in national debt servicing costs, which he said could impact public services and living standards. He emphasized that Reeves should be addressing the economic challenges at home rather than seeking trade deals overseas. In response to the market situation, Reeves announced plans for substantial cuts to the welfare budget. She stated that her fiscal rules are "non-negotiable" and that actions will be taken to balance the nation's finances.