Like Reeves, Bell doesn't have many practical suggestions for boosting growth, but has eye-watering plans to hike tax after tax after tax. This goes way beyond anything Reeves has done. Bell has called on Reeves to launch another inheritance tax (IHT) blitz by scrapping the £175,000 residence nil-rate band altogether.

Pensions minister Torsten Bell (pictured), who has just arrived at the Treasury, has previously questioned the sustainability of the triple lock.

The verdict is in. The Gilt market has found the Chancellor Rachel Reeves guilty of reckless endangerment of the country’s finances. A large electoral majority led her to think the world would happily finance what she described in her Mais Lecture as the “smart and strategic state”.

The Chancellor delivered the largest tax-raising Budget in history, clobbering businesses, motorists, farmers and pension savers with a £40 million raid.

The chancellor is caught in a credibility trap, where abiding by one promise made in the name of credibility undermines another. The government’s credibility relies on incredible promises that cannot be met.

UK chancellor Rachel Reeves has shrugged off calls for her resignation, insisting to MPs that her economic plans can deliver an “immense” prize and defending her visit to China last week.

Reeves’s worst week in office so far was marked by the UK struggling to keep the confidence of financial markets following a global bond sell-off. The investor revolt pushed up government borrowing costs amid concerns her current economic plan won’t deliver the growth to bring national debt under control, and will drive up already sticky inflation.

Tories claim improvements to the school which educated two of Keir Starmer’s cabinet ministers would not have been allowed by Labour’s education reforms

As ye sow, so shall ye reap. One reasonably reliable rule of economics is that markets will eventually always find you out. It’s taken just six short months for this to happen to Labour, with its fairytale promise to end austerity in public services without having to raise taxes on working people.

Reeves' travel to the Swiss town of Davos on Wednesday and Thursday comes after the International Monetary Fund last week bumped up its British growth forecast for 2025, while a PwC survey published on Monday ranked Britain as the second most investible country after the United States.

The majority of Labour figures rallied around Reeves on Tuesday as she defended her plans against a backdrop of economic turbulence

Rachel Reeves shrugged off Tory calls for her resignation as she faced MPs after a turbulent week, which saw volatility in the pound and the cost of Government borrowing soar