0:02
chancellor it is a bitter regret that at
0:04
this difficult time with these serious
0:06
issues she herself is nowhere to be seen
0:09
Rachel Reeves is under pressure to
0:10
cancel her trip to China amid turmoil in
0:13
the bond markets causing issues for the
0:14
treasury the chancellor is being accused
0:16
of having fled but the government
0:18
insisted her trip was important for UK
0:20
trade so what's going on there are
0:22
Jitters in the financial markets as the
0:24
10-year cost of servicing UK debt surged
0:26
yesterday to its highest level since
0:28
2008 while the pound continued to fall
0:30
against the dollar having to spend more
0:32
on paying back debt interest means less
0:34
money for the government to spend on
0:35
public services in the UK and Rees has
0:38
promised making it a fiscal rule not to
0:40
borrow to fund day-to-day spending this
0:42
means speculation that she could be
0:44
forced to raise taxes or cut
0:46
departmental budgets such as on the
0:47
courts local government or transport as
0:50
her 9.9 billion pound spending buffer
0:52
shrinks where is Rachel Reeves the
0:54
chancellor is set to travel to Beijing
0:56
and Shanghai this weekend where she will
0:58
meet her Chinese counterpart he Li Fang
1:01
Tory opponent and Shadow Chancellor Mel
1:03
stride put forward an urgent question in
1:05
the House of Commons today asking the
1:06
government what the rising debt costs
1:08
meant for the public purse and he hit
1:10
out at Reeves for her absence asking
1:12
where is the chancellor it's a bitter
1:14
regret that at this difficult time with
1:16
these serious issues she herself is
1:18
nowhere to be seen and he wasn't the
1:20
only one former conservative Minister
1:22
Dame Harriet Baldwin accused the
1:24
chancellor of having fled to China and
1:26
suggested her budget had made her an
1:27
arsonist while Shadow Home Secretary
1:29
Chris philps told the son she should be
1:31
staying in the UK fixing the mess that
1:33
her budget created reform UK Deputy
1:35
leader Richard Ty said Reeves should
1:38
return from her ridiculous trip and the
1:39
liberal Democrat leader sir Ed Davy said
1:42
instead of jetting off to China the
1:43
chancellor should urgently come before
1:45
the House of Commons what has the
1:46
government said treasury Minister Darren
1:48
Jones spoke on ree's behalf in the
1:50
Commons and insisted the chancellor
1:52
would be going on her trip to China he
1:54
said the visit has been well documented
1:56
for many weeks and was important in
1:58
terms of trade and investment in in the
2:00
economy here in the UK and during a
2:02
briefing with journalists the prime
2:03
minister's official spokesman was asked
2:05
why Reeves did not appear in Parliament
2:07
herself they said it's up to the
2:09
treasury who they send to respond to
2:11
Urgent questions what do you think about
2:12
the Chancellor's trip to China let us
2:14
know in the comments and follow cam for
2:17
more on this story and others
