Embattled Chancellor Rachel Reeves heads to China as UK economy struggles

Jetting off amid crisis

Amid a major debt crisis and a plummeting economy at home, Chancellor Rachel Reeves faces backlash as she flies off to Beijing. Yields on UK bonds are at their highest level since the 2008 financial crisis, surpassing the doomed Liz Truss era.

Political firestorm

The Tories are calling for Reeves to be sacked over fallout from her October Budget, with one Cabinet colleague accusing her of having "lost the plot." Shadow Business Minister Dame Harriet Baldwin criticized the Chancellor for making things "substantially worse" for the economy.

Defending the trip

Despite criticism, Cabinet Ministers rush to Reeves' defense, emphasizing that the tax and spend rules under the Labour administration are "non-negotiable." Culture Secretary Lisa Nandy highlights the importance of the UK's relationship with China and the need to remain competitive in the global economy.

Market turmoil and warnings

Reeves' tax-hiking Budget, which includes a steep national insurance rise, is blamed for the market turmoil. Economists warn of a potential debt crisis reminiscent of the 1970s, with the threat of industrial action looming and comparisons to past economic challenges.