Rachel Reeves faces criticism over China trip as UK borrowing costs rise

Chancellor Rachel Reeves is facing criticism for her trip to China amid rising government borrowing costs in the UK. This has led to concerns about her credibility and commitment to domestic economic issues, especially as long-term borrowing rates approach historic highs. Economist Julian Jessop noted that while global interest rates are rising, the UK's situation is particularly concerning. He highlighted that UK yields have increased more than those in Europe, raising investor worries about inflation and government spending. Jessop suggested that Reeves should focus on a growth agenda to improve market confidence. He indicated that the current turmoil in bond markets might be temporary, depending on future economic developments.