British Prime Minister Keir Starmer gave Chancellor of the Exchequer Rachel Reeves his full backing on Wednesday evening, hours after failing to guarantee her position when asked in parliament. On Thursday, Starmer promised his government will adhere to strict budget rules as he tries to soothe market sentiment after uncertainty about Reeves caused UK government bonds, the pound and stocks to fall on Wednesday. Bloomberg’s Adam Blenford breaks down the situation.
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