Her tears shook not only the House, but also global financial markets. According to parliamentary tradition, every Wednesday the Prime Minister stands before the House and faces tough questions from the opposition. But this time the focus was not on the Prime Minister but on the silent helplessness and tears of Rachel Reeves, who was sitting next to her. Opposition Leader Kim Badenoch called Reeves “depressed” and “the Prime Minister’s shield,” and even questioned whether Reeves would remain in office until the next election.

The Prime Minister avoided giving a direct answer to this question — and at that moment Reeves was seen wiping tears from her eyes.

The incident had an immediate impact on the market, sending the British pound down and the yield on 10-year government bonds higher — a clear sign that investors were losing confidence in British monetary policy. Reeves, who had been seen as a symbol of budget austerity and fiscal discipline, is also under increasing pressure from within the party, especially after the failure of the government’s controversial welfare reform bill. A statement from the Prime Minister’s Office said Reeves’ tears were personal and she had her full support.

Starmer later said that Reeves would be chancellor “for many years” and that it was wrong to claim that her anxiety was due to political circumstances. A day later, when the Prime Minister and Reeves met at a public event, the two even hugged. Reeves smiled and said: “People saw me upset, but that was yesterday. The only difference is that my difficult day is on TV.”