Some thought Rachel Reeves’s experience at the Bank of England meant she ‘knew how to run the economy’. She would keep an iron grip on budgets and demand value for money. The reliability of her management of the Treasury would unlock a wave of support from global finance. Ahead of the election, Reeves, along with fanboys such as the former Bank of England Governor Mark Carney, boasted endlessly about her financial and economic expertise. But only four months into her time in No. 11, there are already alarming signs she has lost control of spending.
The public sector borrowing figures published today were far worse than expected. The government borrowed another £16.6 billion over September, which was £2.1
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