UK Ministers Slam Reeves' Rent Freeze Plan

0:00On April 29th, senior U.K. ministers are slamming Chancellor Rachel Reeves over a report she considered a year-long freeze on private rents. The housing secretary, Steve Reed and housing minister Matthew Pennycook both called it a non-starter, pointing to failed examples in places like Sweden, Germany, and Scotland, where rent spiked outside controls. No 10 has now ruled out the idea completely, less than two days after the report surfaced. Reed was blunt, saying they've been crystal clear against it, while Pennycook highlighted how such policies distort the market. This quit backlash has folks questioning Reeves' job security, especially after local election losses. Conservative leader Kimmy Badanak pressed Prime Minister Kierstarmer on it during questions in the comments, but he just praised her without a firm. Guarantee sheets they put. Reeves show no signs of worry, speaking upbeat to Treasury staff about growth plans, budget wins like utility cuts, and steering clear rash moves. On the Iran crisis, her allies dismissed sacking rumors as nonsense.

1:03Meanwhile, city investors are jittery over labor's infighting and Middle East tensions, with 10-year bond yields hitting highs above 5 percent. Not seen since 2008, next week's polls could shake things up even more as barring costs climb.