Pound Sterling: Shadow chancellor ‘very concerned’ by fall of pound following the mini-budget

Rachel Reeves says she is “very concerned” about the fall of the pound following the announcement of Kwasi Kwarteng’s mini-budget, warning it will worsen the cost of living crisis.

Speaking on Sky News, the shadow chancellor called for the government to set out a “credible plan” for public finances, claiming Mr Kwarteng’s failure to do that has spooked the market.

“I started my career at the Bank of England, and I have to say, I haven’t seen anything like this before ... the pound is at an all-time low against the dollar,” she said.

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