Tory leader clashed with Sir Keir Starmer during Prime Minister’s , claiming he and his Labour colleagues had been “too busy congratulating themselves” to ask whether Chancellor was qualified to do her job.
In a feisty exchange at the despatch box, Ms Badenoch said: “At the budget, Labour were congratulating themselves for having the first female chancellor, instead of ensuring the country had someone actually qualified to do the job.”
Her stinging prognosis went on to say that although the PM has “full confidence” in Reeves, the City wasn’t as sure.
She said: “The Prime Minister claims he has full confidence in the chancellor, but the markets clearly do not.
“Yesterday, the Chancellor repeated her promise to have just one budget per year to provide businesses with certainty.
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Sir Keir Starmer and Rachel Reeves in the Commons (Image: Parliament TV)
“The talk in the city is that she can’t meet her fiscal rules, and there will need to be an emergency budget.
But Sir Keir was quick to hit back, insisting that Ms Reeves was staying in her post for the long haul.
He said: “She will be pleased to known the Chancellor will be in place for many, many years to come.”
Referring to the previous Conservative administration, he continued: “If we all thought that politics was about cheap words, I could criticise their chancellors, but I don’t have enough time to go through all the chancellors that they had.
“We have one budget. That’s what we committed to strong fiscal rules, and we’ll stick to them, unlike the party opposite.”
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Sir Keir Starmer and Leader of the Opposition Kemi Badenoch (Image: Parliament TV)
Ms Badenoch also questioned why anyone should trust himself.
She said: “While borrowing costs hit levels not seen since Labour was last in government, I met business owners and their employees in Chesterfield.
“One of them told me that his business will not exist in four years’ time because of this Government’s policies, it might not even exist next year.
“The Prime Minister may try to blame his inheritance, or blame global factors. But why should anyone trust a word he says over the businesses who are saying again and again that his budget means fewer jobs, lower growth and higher borrowing costs?”
Conservative party leader Kemi Badenoch speaking during PMQs (Image: PA)
is already under pressure after the cost of borrowing soared last week, with widespread reports suggesting she is piling pressure on UK regulators to scrap fiscal rules she regards as hindering economic growth.
She was dealt another blow yesterday with the revelation that the has slumped in value against 51 out of the 54 most popular holiday currencies since her Budget in the autumn.
Her perceived shortcomings have earned her the nickname Rachel from Accounts, and No.10 was forced to issue a statement clarifying that she would remain in her job until the next election after Sir Keir stopped short of doing so on Monday.