Sir Keir Starmer has sought to calm the markets and end speculation about Rachel Reeves' future after the chancellor was seen crying in the House of Commons. The pound plummeted and government borrowing costs rose after the incident at prime minister's questions on Wednesday, when Sir Keir failed to guarantee that Reeves would keep her job.

Sir Keir Starmer said Rachel Reeves was upset about a personal issue, and was caught on camera because there’s no ‘hiding place’ in politics.