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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.
In her first House of Commons appearance since market turmoil hit her economic plans last week, Reeves was accused by her Conservative opposite number Mel Stride of being part of a “Shakespearean tragedy”.
Stride said: “To go, or not to go, is now a question.” But Reeves, cheered on by Labour MPs, said she would in the coming weeks set out more details of a plan to revive a stagnating economy.
“If we get it right, the prize on offer to the British public is immense,” she said. Reeves claimed the recent bond market turmoil affecting UK borrowing reflected “global economic uncertainty”.
The chancellor has come under increasing pressure to set out a plan to turn…