It comes as Rachel Reeves insisted she would not resign despite a wave of criticism over decisions such as the National Insurance increase, inheritance tax on family farms and winter fuel payment means-testing, as well as poor economic growth with the economy growing by just 0.1% in November.

The disappointing retail data adds to the dim economic picture in the U.K. and to the challenges facing Finance Minister Rachel Reeves.

Interest rates 'to be cut within weeks' as weak economic growth figures deal new blow to Rachel Reeves - The Bank of England’s Monetary Policy Committee is expected to cut interest rates in early Febr

UNDER-pressure Rachel Reeves was given a glimmer of hope as inflation fell — raising interest rate cut hopes. The Chancellor saw inflation sink 0.1 per cent to 2.5 per cent in December, the drop

Andrew Bailey has joined Chancellor Rachel Reeves and senior financial figures including the Chair of HSBC on a trip to China.

RACHEL Reeves has vowed to “make the UK better off” on her visit to China amid fury over a major debt crisis and a plummeting economy at home. The under-siege Chancellor met Chinese

Falling inflation and borrowing costs are good news for the Chancellor but the Budget watchdog will not make a call on market conditions until next month

Chancellor Rachel Reeves faces "difficult decisions" if she wants to meet her self-imposed financial rules after borrowing costs hit their highest level for 16 years, the former deputy governor of the Bank of England has warned.

Inflationary pressures are likely to prove frustratingly persistent, a Bank of England survey suggests, as firms prepare to hike prices.

Truss herself accused the Chancellor of pushing Britain “to the brink of an economic crisis”. Shadow Chancellor Mel Stride said Reeves’ visit to China is “tone deaf” and she should be “reassuring” markets in the UK following turbulence on the gilt markets.

A 0.1 per cent drop in inflation may not sound like much but the marginal figure is one that may prove particular significant for Rachel Reeves.

A fall in December's CPI inflation of 0.1 percentage points to 2.5% is marginal, but by being below expectations it delivered an above-expectations boost to Rachel Reeves. The chancellor has been under intense scrutiny for the last week as UK borrowing costs have risen (in line with US and European peers) and the value of the pound has fallen.