Politics At Sam and Anne's Rachel Reeves takes back control
Mar 24, 2026
A tense international standoff and the US pause on action in Iran and its market fallout. The UK fiscal squeeze and debates over targeted support for struggling households. Questions about whether Treasury leadership can calm markets and avoid past mistakes. Local councils facing costly planning decision payouts and a polling check on public trust in leadership.
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Reeves Reasserts Treasury Control To Calm Markets
- Rachel Reeves is positioning the Treasury to set spending parameters and reassure markets after recent volatility.
- Reeves will stress no loosening of fiscal rules, limit borrowing, and present lessons learned from Liz Truss to signal fiscal discipline.
Targeted Energy Support Over Universal Bailout
- The Treasury plans targeted, means-tested energy support rather than a universal payout to avoid repeating Liz Truss mistakes.
- Reeves commissioned a lessons-learned review highlighting payments to the richest 10% under Truss as a cautionary example.
Delay And Target Support During Low Demand Months
- Take time to design fair, targeted support rather than rushing a broad scheme that markets will punish.
- Reeves will keep the existing price cap until June and use lower-demand months to build a precise plan.