The Chancellor was visibly distressed, wiping tears from her cheeks as Conservative leader Kemi Badenoch tore into the government ’s climbdown over welfare the previous evening. According to Reeves’ spokesperson, the reason she was upset was a ‘personal matter, which – as you would expect – we are not going to get into’.

UK government bonds have settled back to prices seen before Rachel Reeves was seen crying at PMQs as bond markets were soothed by Keir Starmer’s warm words about the chancellor. The prime minister said Rachel Reeves was a “great colleague” and re-affirmed she would be the chancellor for “a very long time to come”.