Market reaction is 'very different' from Liz Truss turmoil

THE UK is in a "very different world" compared to the turmoil which followed Liz Truss' economic plans, a minister has said as the Government seeks to quell post-Budget market jitters.

The scale of extra borrowing in Rachel Reeves' Budget £32bn a year on average - saw yields on Government bonds increase as the market responded to the Chancellor's plans.

The value of the pound has also fallen against the dollar following Labour's first Budget in more than 14 years.

But Darren Jones, Ms Reeves' deputy at the Treasury, told Sky News yesterday that "markets always respond to budgets in the normal way" "I think we've all got PTSD from Liz Truss," he added.