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Bloomberg
03-07-2025
- Business
- Bloomberg
UK's Reeves Says ‘Personal Issue' Behind Emotional Appearance
UK Chancellor of the Exchequer Rachel Reeves said her emotional appearance in Parliament on Wednesday was caused by a personal issue that wasn't related to her work with Prime Minister Keir Starmer. Reeves spoke to broadcasters about the incident on Thursday, following an appearance with Starmer, where he credited her fiscal rules for his government's accomplishments.


Times
03-07-2025
- Business
- Times
Rachel Reeves is ‘fine' after tearful PMQs, says Keir Starmer
Government borrowing costs fell sharply this morning after Sir Keir Starmer belatedly backed the chancellor, Rachel Reeves. The yield on the 10-year gilt spiked to 4.66 per cent yesterday after prime ministers questions, the biggest jump since Liz Truss's premiership. Following further comments from Starmer, bond yields fell to 4.52 per cent this morning. • Read in full: Government borrowing costs drop after PM's defence of chancellor Sir Keir Starmer said that he and Rachel Reeves were in 'lockstep' over their commitment to fiscal rules and management of the economy. The prime minister said they were 'absolutely committed to our fiscal rules and the economic stability that is so important for this country, and that is the rock on which we build everything else'. He added: 'On that issue, Rachel and I are in lockstep, and have been for years. She's great colleague. She's a friend of mine and I'll be working with her for a very long time to come. But like all human beings, we're also 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 could be caught on camera in a way, if it had been anybody else at work, it would have not really been noticed.' The prime minister said the chancellor's tears were 'nothing to do with politics, nothing to do with the ups and downs of this week, or her relationship with anybody in the Labour Party, it's purely personal'. Sir Keir Starmer said people could be caught 'off guard' by their emotions, but not everyone had to do so in the public eye. He said Reeves was an 'excellent chancellor' and they were both 'absolutely committed to our fiscal rules'. He said: 'What I would say is — and you'll understand this — in politics, you're on show the whole time, there's no hiding place. But we are humans in the end and sometimes personal things are obviously on our minds and, in this case, that was the situation.' Sir Keir Starmer said Rachel Reeves was 'fine' following the tearful episode in the Commons. The prime minister told Virgin Radio: 'She's fine. She's good … I had a long chat with her last night. She's very resilient and strong is Rachel. She's driven through lots of change in the Labour Party. We've had to change the Labour Party, fought an election together. 'I've seen her resilience firsthand. I admire it. She's a really powerful woman, and she's also very widely respected. The sort of messages of concern that have come in over the last 24 hours or so show the great affection and respect in which she is held. 'People are held in respect for a reason, and that's because people know they're very good at what they're doing.' Thousands more GPs and fewer hospital consultants will be trained in an effort to shift healthcare closer to home, the government is set to announce in a speech this morning. Two-hundred new 'neighbourhood health centres' will offer scans, outpatient appointments, mental health therapy and a host of services without the need to go to hospital — under proposals to be outlined in the government's ten-year plan for the NHS. Starmer said the plan would 'fundamentally rewire' the health service, making hospitals a last resort instead of the 'default' for care. He has previously said the NHS must 'reform or die'. The prime minister is due to speak at a 'health setting' in London at 10.30am. Wes Streeting, the health secretary, told Times Radio that the chancellor is 'here to stay' despite her emotions at PMQs on Wednesday. He said: 'I have been in touch with Rachel since PMQs yesterday. Look, we're all human, and sometimes we have things going on in our lives. I think lots of people listening will think of those times where something's been going on personally, and you don't become a different person when you walk through the door at work.' Streeting added that the prime minister had been 'absolutely unequivocal and full-throated' in his support of Reeves, and added: 'There is absolutely no question as far as the prime minister and indeed the rest of the cabinet are concerned about the chancellor's future. Rachel Reeves as chancellor is here to stay, and she's going to lead our economy from strength to strength.'