Public should not be worried about trouble in financial markets, cabinet minister says
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The public should not be "worried" about the cost of government borrowing going up, a cabinet minister has said. Lisa Nandy said the current situation in the financial markets - which has seen the pound fall to to its lowest level in over a year - was something the government took "very seriously".
But she suggested the situation was influenced by "global trends that have affected many countries" and that the UK was not an outlier. Politics latest: Reeves heading to China for economic talks. Asked whether people should be concerned about the fact that UK borrowing costs have surged to the highest in 16 years, Ms Nandy told Anna Jones on Sky News Breakfast: "I don't think we should be worried.
"It's obviously something we take very seriously, but these are global trends that have affected many countries, most notably the United States, as well as the UK. "We are still on track to be the fastest growing economy, according to the OECD [Organisation for Economic Co-operation and Development] in Europe.".
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