Blow to government as Labour's Rachel Reeves holds talks with US Treasury boss Janet Yellen | The Sun

RACHEL Reeves held talks with US Treasury Secretary Janet Yellen today in a blow to the government.

Labour’s aspiring Chancellor met her America's top financial official in growing signs the Biden administration is preparing for a change of government.

The meeting had echoes of Tony Blair meeting US President Bill Clinton in 1996 at the White House while in opposition to boost his international credentials..

The move will alarm Tories that Sir Keir Starmer’s outfit are being seen as a government-in-waiting on the world stage.

Chancellor Jeremy Hunt last met Yellen earlier this month while at the G7 in Japan.

Reeves also spent time with Yellen and her deputy Wally Adeyemo as she wraps up her four-day stateside trip.

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She also met with the Director of the National Economic Council Lael Brainard.

Labour believe they are on course to win a general election following the local election results earlier this month.

However, Sir Keir Starmer has failed to rule out on multiple occasions an electoral pact with the Lib Dems.

The meeting came after Reeves gave a major speech saying she would invest in sectors and technologies that will “shape Britain’s future success”.

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It follows in the footsteps of Joe Biden’s flagship policy as they plan a multi-billion pound green jobs revolution central to its industrial strategy if they win power.

She has branded her policy “securonomics” building up industries at home and working closely with key allies to guarantee economic security.

But Tory party chair Greg Hands said:  “While Rachel Reeves is talking down Britain, we are growing the economy and cutting inflation here in the UK.

“Labour’s plan to stick £28 billion a year on the country’s credit card shows Labour haven’t really changed. All they are proposing is the same old Labour ideas of more spending and borrowing.”

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