DEFENDING Treasury rules is Labour’s priority amid the global economic turmoil, Chancellor Rachel Reeves confirmed today.

She warned MPs that the fiscal rules limiting government debt and spending remained “sacrosanct” even as more Labour voices are raised to demand their relaxation.

And Prime Minister Keir Starmer told a committee of MPs that his instinct was not to “jump in with both feet to retaliate” to US President Donald Trump’s tariffs.