Rachel Reeves has “much more to do” to fix the British economy, Wes Streeting has admitted.

The Chancellor is under pressure after Sir Keir Starmer undermined her by bringing three economic experts including Darren Jones, Ms Reeves’s former deputy, into his No 10 team.

The internal reshuffle came as a further threat to Ms Reeves’s faded authority ahead of a make-or-break Budget.

Ms Reeves has faced fresh questions over her economic plan after Britain’s government borrowing surged to a 27-year high.

Asked about the state of the markets, Mr Streeting, the Health Secretary, told Sky News: “When we came in, people saw the state of the public finances, borrowing was at a record high.