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UK: Pound Falls, Gilt Markets Rise as Chancellor Cries at PMQs

  • #United Kingdom
  • #Politics
  • #Money
  • #Governance
UK: Pound Falls, Gilt Markets Rise as Chancellor Cries at PMQs
story
JUL 3
Above: Prime Minister Sir Keir Starmer and Chancellor of the Exchequer Rachel Reeves on June 23, 2025. Image copyright: Jacob King/WPA Pool/Getty Images
story last updated JUL 3

The Spin

Pro-government narrative

Reeves deserves recognition for her strength as Chancellor during challenging times. While everyone makes mistakes, Reeves has continually faced intense scrutiny that often seems disproportionate as she takes the brunt of the government's most difficult decisions to ensure economic stability. Personal moments of vulnerability are natural, and the Chancellor is here to stay.

XBBC News

Opposition narrative

Reeves' Commons breakdown has undermined her "Iron Chancellor" image and reveals an individual out of her depths. Both the chancellor and Starmer alike have witnessed seismic blows to their authority, and remain unable to implement an effective economic strategy. While no pleasure should be taken in seeing Reeves so visibility upset, it is clear she is no longer up to the job.

IndependentThe Telegraph

Metaculus Prediction


Public Figures

Keir Starmer

Rachel Reeves


The Controversies


UNLIKELYLIKELY
Status:Open
Will the UK Economy Grow By 2% GDP In a Year Under Labour?
Controversy
JUL 3JUL 3

Articles on this story

UK bond yields rise sharply amid speculation over future of Rachel Reeves
GuardianJUN 30
Starmer finally bolsters Reeves after her tears in the Commons spook markets
IndependentJUN 30
Its hard to see how Rachel Reeves can survive
IndependentJUN 30