Reeves defies rebels, insisting fiscal rules are 'non-negotiable'

RACHEL Reeves took a major gamble last night as she faced down demands by Labour rebels to loosen Government spending.

- By Martyn Brown Political Editor

She insisted her ironclad fiscal rules remain “nonnegotiable” despite warnings they are stifling economic growth and will lead to tax rises this autumn.

The under-pressure Chancellor used a major speech to City of London grandees to set out a vision of revitalising Britain’s financial ser vices industry, that she hopes will kick-start the economy.

Pressure