The Latest Breaking News from Rachel Reeves

Here are the major stories making headlines this Saturday.

British finance minister Rachel Reeves began a visit to China on Saturday, seeking to revive dialogue with the world's number two economy as UK borrowing costs soar.

The Chancellor of the Exchequer vowed to stand firmly behind her fiscal plan when asked if she will need to rethink her economic strategy.

Britain’s Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.‘s Labour government seeks to reset frayed ties with Beijing

UK chancellor becomes first holder of her office to make an official visit to China in a decade

Labour chancellor accused of ‘undesirable’ policies and ‘incompatible promises’

‘Choosing not to engage with China is therefore no choice at all,’ said Rachel Reeves.

Pound falls against the dollar and bond yields rise amid concerns over high UK inflation and interest rates

Markets appear to be fretting over sustainability of tax and spending plans and whether UK is heading for ‘stagflation’

Fiscal crisis, corruption claims, shenanigans and legal threats. This feels like the week old-style politics sat on a grenade, says Guardian columnist Marina Hyde

UK borrowing costs have risen rapidly to their highest level since the banking crisis of 2007-08, with implications for the government’s tax and spending plans. Yields on gilts, as UK government bonds are called, have been rising – and these yields are effectively the level of interest that the government…