UK government 'in an absolute bind' after U-turns, panic
CNBC · Current
CNBC
Current
Max Wilson, director of public affairs at Whitehouse Communications, talks to CNBC about tumult in the U.K. government and the economic and political mess that the Labour leadership finds itself in.
BreakdownGenerated by LeadStory AI
- Prime Minister Keir Starmer has confirmed support for Chancellor Rachel Reeves after initial uncertainty. 11s
- Market volatility followed speculation about Reeves' position and the government's fiscal direction. 1m 3s
- Recent backbench opposition led to a government U-turn on the welfare bill, limiting policy options. 2m 15s
- The government now faces significant challenges in finding extra funding without upsetting markets. 2m 43s
- Long-term consequences of the U-turns may include reduced government authority and increased political difficulties. 3m 31s