The aftermath of the budget will make for a scary Halloween for Robber Reeves. Over the past three days, the Sterling is down by 1.2% – the biggest fall in more than 18 months. Meanwhile UK 10 year gilt yields are up 4.488%, a full percentage point higher than the day after Truss’ Budget. As Sky’s Ed Conway was saying just now, the markets are reacting in a “violent way”…
Paula Barker, Liverpool Wavertree MP backing Andy Burnham, told Times Radio there wouldn’t be trouble from the markets under Burnham:
“The markets will have to fall in line.”