Sir John Gieve, former Deputy Governor at the Bank of England, said the Chancellor may have to hike taxes or impose some ‘very severe reductions and squeezes’ on public services

Voters will never forgive the Prime Minister and Chancellor if they don't clean up the mess they are making of the economy, senior Tory warns

Rachel Reeves faces mounting pressure to cancel her trip to China as Britain grapples with a market crisis that has pushed Government borrowing costs to their highest level since the 2008 financial crash.

The Chancellor was accused of having “fled to China” rather than explain how she will help the UK’s “flatlining” economy after borrowing costs hit a 27-year high and the Pound fell to a year low against the Dollar, sparking warnings of higher mortgages.

As the cost of government borrowing rises, political figures from across the political spectrum have questioned whether the Chancellor should be flying to China.