Market turmoil has calmed but Rachel Reeves faces more challenges ahead

Chancellor survives chaos in markets but faces more questions on growth, cuts, public sector pay and fraud

Rachel Reeves was given a warning this month how the most carefully plotted budget strategy can be blown off track by turmoil in financial markets.

Calm has been restored, for the time being, but the lingering effect has been to increase the UK government's cost of borrowing.