British finance minister Rachel Reeves began a visit to China on Saturday, seeking to revive dialogue with the world's number two economy as UK borrowing costs soar. Reeves, whose formal title is Chancellor of the Exchequer,

The value of the pound fell to its lowest level in over a year while UK borrowing costs jumped to their highest since the financial crisis

Chancellor Rachel Reeves faces demands to cancel a trip to China as the UK economy descends into chaos. She is jetting off to Beijing despite fears that a crisis on the financial markets could force her to impose fresh tax hikes or impose swingeing spending cuts.