Early indications that chancellor will slash disability benefits and delay increases to the defence budget to the 2030s to avoid breaking borrowing rules

The value of the pound fell to its lowest level in over a year while UK borrowing costs jumped to their highest since the financial crisis

Rachel Reeves faces claims of ‘fleeing to China’ amid concerns over UK borrowing - The Chancellor has a long-planned trip to China scheduled for this week and Treasury minister Darren Jones described it as ‘important’ to UK trade.

Chancellor of the Exchequer Rachel Reeves kicked off a two-day China visit Saturday, a landmark exchange highlighting the Labour government’s efforts to stay focused on long-term plans to get the British economy growing again even as fiscal concerns mount back home.

British finance minister Rachel Reeves, facing criticism for travelling to China during financial market turmoil at home, said on Saturday that "pragmatic and predictable" relations with Beijing would help boost economic growth and trade.

Closer links with China are “crucial” for economic growth, Rachel Reeves has said...