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Reeves will remain Chancellor for all of parliament, says Downing Street

Downing Street has said Chancellor Rachel Reeves will remain in her role "for the whole of this Parliament", as she faces criticism over the falling pound and rising government borrowing costs.
 
The pound fell to $1.21 US to 1 on Monday, its lowest level since November 2023, while one measure of the rate at which the government can borrow money hit its highest level since 2008.
 
Borrowing costs are rising for many countries across the world, but some have argued that decisions made in the Budget appear to have made the UK more vulnerable.


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