Rachel Reeves blames global volatility for borrowing rates spike amid Tory criticism

Chancellor tells Tory MP to get real' and that UK bond market changes are similar to those in other countries

Rachel Reeves has told the Conservatives to get real" as she blamed global economic volatility for the recent spike in UK borrowing rates, which has triggered calls for her resignation and left her contemplating further public sector cuts.

The chancellor appeared in front of MPs on Tuesday for the first time since travelling to China and after several days of bond market turmoil that have taken the government's borrowing rates to their highest levels in decades.