FLASH
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British Treasury Secretary Rachel Reeves was seen wiping away tears as Prime Minister Keir Stramer spoke in Westminster Hall. She then left the hall in shock and was comforted by her sister Ellie and an MP, holding her hand.
During the afternoon, Downing Street tried to smooth things over by saying the Chancellor had Starmer's "full support", but the damage was done and markets showed no signs of calming down.
Labour MPs rebelled against the measure, which would have pushed hundreds of thousands of people back into poverty. Starmer was forced to 'sack' it at the last minute and the Chancellor of the Exchequer is likely to be forced to break her promise not to raise taxes.
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