Rachel Reeves's plans to enhance Labour's economic growth are overshadowed by a sell-off in government bond markets, revealing that investors are concerned over stagflation.
With gross domestic product stagnating and wage growth rising, there are fears in the markets that the UK economy is heading towards a precarious state of stagflation.
Despite a near-zero growth rate and signs of an increasingly weak jobs market, the Bank of England remains hesitant to lower interest rates due to persistent inflation concerns.
The financial community is questioning the viability of Reeves's extensive tax and spending strategy amidst growing worries over economic instability and inflationary pressures.
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