No 10 defends chancellor after day of bitter recriminations over welfare bill fiasco

PM says Rachel Reeves will be chancellor for very long time to come' amid speculation about her job in wake of tearful Commons appearance

Keir Starmer has been forced to defend his chancellor after a day in which the bitter recriminations over Labour's welfare bill fiasco appeared to leave Rachel Reeves in tears and the markets in turmoil.

Ministers said there would be long-lasting implications for the government's spending priorities after it was forced to abandon the central plank of its welfare changes to prevent a damaging defeat by rebel MPs.