RACHEL Reeves finally broke her silence today over her tearful Commons wobble – as she and Sir Keir Starmer put on an awkward show of unity.
The Chancellor admitted she was “upset” and blamed a “personal issue” for her emotional display in Parliament.
Rachel Reeves today
GettyThe Chancellor makes a surprise appearance at the launch of the Government’s 10-year plan for the NHS[/caption]
Sir Keir Starmer and Rachel Reeves share an awkward hug
PARachel Reeves was drafted in at the last minute as Labour scrambled to show a united front[/caption]
Rachel Reeves weeps alongside Sir Keir yesterday
Sir Keir speaking to Chris Evans on Virgin Radio today
But she refused to reveal any more, saying: “Clearly I was upset yesterday and everyone could see that.
“It was a personal issue and I’m not going to go into the details of that.
“My job as Chancellor at 12 o’clock on a Wednesday is to be at PMQs next to the Prime Minister, supporting the Government and that’s what I tried to do.”
She also insisted she was “totally” up for the job.
Her comments came after scenes of her emotional display – caught on live TV – sparked speculation around her future.
Her emotional state and Sir Keir’s initial refusal to explicitly back her in the Commons yesterday sent the pound down nearly 1 per cent and borrowing costs surging at one of the fastest rates since the Liz Truss mini-Budget crisis.
Scrambling to draw a line under 24 hours of intense scrutiny, the Chancellor was hastily drafted in for the launch of the Government’s 10-year-plan for the NHS.
She also shared an awkward hug with Sir Keir as he insisted he would stick with her “for a long time to come” .
But the fallout refused to go away as the PM faced a barrage of questions on whether she was still the the person for the job.
Asked if he was worried that the pressure of the job was becoming too much for Ms Reeves, Sir Keir replied: “No. I have every faith in my Chancellor. She has made incredibly important decisions in the last 12 months and we wouldn’t be doing what we are doing today without those important decisions.”
In a bid to ease market jitters today, Sir Keir earlier this morning revealed he had a “long chat” with her last night and she was staying in post.
He told Virgin Radio: “She is an excellent Chancellor, she will be Chancellor for a very long time to come – into the next election and beyond it.
“She and I are absolutely committed to our fiscal rules and the economic stability that is so important to this country.”
Reeves puts on a brave face
By Noa Hoffman, Political Correspondent
SIR Keir Starmer travelled to East London to talk about his big plan for the NHS.
But unfortunately for the PM there was only one story in town grasping the interest of the nation – that of his embattled Chancellor.
Rumours began swirling early morning that Rachel Reeves would be joining the PM and his Health Secretary, Wes Streeting, on their visit to a neighbourhood health centre.
The unplanned move was designed to send a message: everything is ok here.
The PM’s press conference was delayed by 20 minutes as his team carefully choreographed the Chancellor’s every step.
Dozens of nurses and doctors dripped with sweat in a large and extremely hot clinic room as they waited to hear from the trio.
Finally they were ready – and boy did they put on a show.
The political heavyweights marched into the enclave of NHS staff beaming from ear to ear.
Ms Reeves was today looking sharp and stylish in a perfectly tailored power suit.
During Mr Streeting’s welcome address her smile did not drop once.
And that didn’t change when she took to address the room either.
But what the Chancellor didn’t do is address the tears that caused bond yields to move and sent speculation about her future into a frenzy yesterday.
“That is why she is here today and I am very glad she is.”
Despite attributing her tearful display to “personal reasons”, Ms Reeves had shortly before had a row with Speaker Sir Lindsay Hoyle.
During those exchanges – in the middle of a painful week of benefit u-turns – she admitted she was “under so much pressure”.
Sir Keir said today: “Like all human beings we are personal, there are moments that catch us off guard and if you’re in front of a camera for large periods of your life unfortunately that can be caught on camera.
“I actually personally didn’t even appreciate it was happening in the chamber because I came in and I’ve got questions being fired at me and PMQs and so I’m sort of constantly up at the despatch box
“But I think we just need to be clear it’s a personal matter and I’m not going to breach Rachel’s privacy by going into what’s a personal matter for her.”
Sending a signal to Westminster and the City
Analysis by Ryan Sabey
Rachel Reeves didn’t hold back when she said she’s cracking on with the job of being Chancellor.
It was a clear message to both Westminster and the City that she isn’t going anywhere.
On the political side, Sir Keir Starmer gave the Chancellor her fulsome support which didn’t happen during that Prime Minister’s Questions.
For the City, the show of unity with the PM sends the message that she’s not being replaced, calming nerves in the markets.
Traders are concerned that any successor could blow up her fiscal rules which could trigger a borrowing spree and cause havoc in the money markets.
Her appearance at the launch of the NHS 10-year strategy was a surprise but Downing Street was clearly keen to end any speculation about her future.
Yesterday the Chancellor, 46, was comforted by sister Ellie, a Labour minister, but Sir Keir did not speak to her as she was led to her office next to the Commons chamber.
No 10 had to delete a clip from Sir Keir’s X because it showed Ms Reeves crying next to him, though it insisted the Chancellor was “going nowhere”.
Money markets earlier panicked at the prospect of a change of Chancellor and possible abandonment of her spending rules.
UK ten-year borrowing costs surged to 4.6 per cent and the Pound fell by one per cent against the Dollar to less than $1.36.
Tuesday’s gutting of the welfare reforms left Ms Reeves needing to plug a bigger hole in public savings — either by spending cuts, tax rises or borrowing.
Tory leader Kemi Badenoch pounced at Prime Minister’s Questions — quizzing Sir Keir about whether Ms Reeves would remain in place.
The Chancellor was upset over a ‘personal matter’
COMMONS MELTDOWN
11.50: Rachel Reeves says she is under “so much pressure” just before Prime Minister’s Questions.
12.00: She appears at PMQs.
12.12: Kemi Badenoch twists the knife, asking the PM: “Will the Chancellor even be in post by the next election?”
12.13: Sir Keir Starmer dodges the question, and Ms Reeves is seen shedding tears in the background.
12.45: Downing Street insists the Chancellor is “going nowhere”.
13.00: A spokesperson says Ms Reeves was dealing with a “personal matter”.
Taking aim at the puffy-eyed Chancellor, Ms Badenoch said: “She looks absolutely miserable.
“Labour MPs are going on the record saying the Chancellor is toast. The reality is she’s a human shield for his (the PM’s) incompetence. Will she really be in post for the next election?”
In response, the PM did not confirm Ms Reeves would remain in post until 2029.
He would only tell Ms Badenoch: “I have to say I’m always cheered when she asks me questions or responds to a statement because she always makes a complete mess of it and shows just how unserious and irrelevant they are.”
In her first year in the job, Ms Reeves has faced fierce criticism over winter fuel, welfare cuts, the National Insurance raid, sluggish growth, taxing farmers and taking freebies.
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