POLL: Should Keir Starmer sack Rachel Reeves as he throws her future into doubt? | Politics | News

Sir Keir Starmer ignited a political storm yesterday by refusing to confirm whether Rachel Reeves would still be his Chancellor at the end of this Parliament – so today Express.co.uk readers are being asked: should he sack her?

Number 10 subsequently clarified that Ms Reeves’ job was safe – but the Prime Minister’s initial apparent reticence has placed Reeves under intense scrutiny, raising questions about her position and Sir Keir’s confidence in her long-term economic vision.

Ms Reeves, who has positioned herself as a fiscally disciplined alternative to previous Conservative Chancellors, is now faced with defending her credibility while addressing both external and internal pressures.

She has been instrumental in shaping the party’s fiscal agenda, emphasising growth, green investment and prudence to appeal to voters and businesses.

However critics within the party have questioned whether her commitment to maintaining tight controls on borrowing could constrain Labour’s ability to fund transformative policies.

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Concern is mounting that that the Government is in danger of failing to meet its own fiscal rules and will need to take action to remain on track.

The pound fell to a fresh 14-month low yesterday, at 1.21 dollars. It regained some ground later in trading but still finished 0.3% lower at 1.216 when London’s markets closed.

UK government bonds – also known as gilts – saw 10-year yields rise to fresh highs not seen since 2008. They were five basis points higher at 4.89% at the end of trading.

Longer-term borrowing costs were also higher, with the yield on 30-year gilts up three basis points at 5.45%, after striking its highest level for 27 years earlier on Monday.

Yields are a key indicator of market confidence, moving inversely to bond prices.

Sir Keir Starmer said Ms Reeves had his “full confidence” and was doing a “fantastic job” but had twice declined earlier to say she would stay in the role until the next general election when asked by journalists yesterday.

Asked subsequently why the Prime Minister had been unable to confirm whether her long-term future was secure, his official spokesman said: “You heard from the Prime Minister this morning.

“He was very explicit that he has full confidence in the Chancellor and he’ll be working with her in the role of Chancellor for the whole of this Parliament.”

Speaking on GB News, former Tory minister Sir Jacob Rees Mogg was scathing in his criticism, saying: “Whatever little credibility red Rachel from accounts had has now melted away as ice does after a cold spell.

“How many times did we hear her say that Liz Truss ‘crashed the economy’?

“Well, she doesn’t really have a clue does she really? Rachel is now facing a government debt crisis all of her very own.”

He added: “Debt to GDP is now over 100% that means our debt is larger than our economy for the first time since the 1960s which is all a bit of a problem because we found that the gilt market is the ultimate measure of confidence, and confidence is evaporating.

“And instead of focusing on her job and answering questions at home to reassure the markets over the weekend, she swanned off to Red China to perform a ceremonial kowtow in the hope that it would yield a paltry £600 million of investment.”

Ms Reeves was expected at Downing Street for a Cabinet meeting today as she continues to face pressure amid market turmoil.

Meanwhile a voting intention poll carried out at the weekend put Reform UK just one percentage point behind Labour.

The YouGov survey for Sky News put Labour at 26%, Reform UK at 25% and the Conservatives at 22%.