Central Devon MP, Mel Stride took to the House of Commons to question the Chancellor on her work trip to China as the pound falls.

Rachel Reeves, the Chancellor of the Exchequer is due to go on a three-day work trip, aimed to boost trade and economic ties.

Mr Stride questioned her absence in the Commons yesterday (January 9) after reports that the pound has fallen to its lowest level in over a year and UK borrowing costs are at a 16-year high.

He said: "Where is the Chancellor? It is a bitter regret that at this difficult time with these serious issues she herself is nowhere to be seen.

“In the last 48 hours borrowing costs have reached a 27-year high and it is the Chancellor's decisions that have led us here. Before the election (Rachel Reeves) promised that Labour would get debt falling, they would not fiddle the figures, they would not raise taxes and they would grow the economy, but the economy is now flatlining.

"Survey after survey is showing business confidence has simply evaporated and at the budget the Chancellor hiked up taxes, increased borrowing by an average of £32 billion-a-year across the forecast and conveniently adjusted her fiscal rules to allow her to do it. Higher debt and lower growth are understandably now causing real concerns among the public, amongst businesses and in the markets.”

The three-day trip is under the hope that the UK government will revive annual meetings to discuss economic issues with China which have not been held since the pandemic, according to the BBC.

Cabinet colleagues such as the Culture Secretary, Lisa Nandy, told the BBC that she supported Reeves decision to embark on the business trip.

In China, Reeves will meet the Vice Premier He Lifeng in Beijing before flying to Shanghai for discussion with UK firms operating in China.