The pound has fallen sharply in the wake of Sir Keir Starmer’s economic reshuffle that sidelined Rachel Reeves.

Prime Minister promotes Darren Jones as part of attempt to reset his premiership

The moves indicate that Starmer believes he needs better economic advice before a budget later this year that is expected to include further tax rises.

The PM has pinched Rachel Reeves’ deputy in a mini-reshuffle, meaning the new term is starting as chaotically as the last one finished

The Prime Minister’s actions strongly suggest that he has lost confidence in the Chancellor

In a sign that he plans to take personal charge of the autumn Budget , the Prime Minister appointed his own economic guru and poached the Chancellor's deputy and chief tax adviser.

Keir Starmer's new-look top team will assemble in Downing Street amid fears the ground is being laid for another brutal tax raid at the Autumn Budget.

The pound has fallen sharply in the wake of Sir Keir Starmer’s economic reshuffle that sidelined Rachel Reeves.

Borrowing costs also rise to ‘complicate matters enormously’ ahead of make-or-break Budget

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