Anna Jones and Lisa Nandy on Sky News.

A cabinet minister has insisted ordinary people “shouldn’t be worried” about the state of the economy despite turmoil on the money markets and the falling value of the pound.

Culture secretary Lisa Nandy also defended under-fire chancellor Rachel Reeves’ decision to fly to China while the economy wobbles.

Government borrowing costs have hit their highest level in years, meaning ministers have less money to spend on frontline services and piling pressure on Reeves to either put up taxes again or slash public spending.

Meanwhile, the value of the pound - a key indicator of........

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