Labour is the party of sound money, says Rachel Reeves

Rachel Reeves has declared that Labour are the “party of economic responsibility” as she accused Liz Truss of gambling with taxpayers’ money.

Calling rising inflation a national emergency, the shadow chancellor attacked the government for pushing up costs to hand money to the rich.

In her speech to the party’s annual conference in Liverpool, Reeves said that she was “more than happy to take on the Tories on economic competence, because I know we can win. I’m now wondering if they even plan to turn up for the fight.”

She said tax cuts in last week’s mini-budget were “putting our economy in danger” as the value of the pound tumbles. Likening Truss and Kwasi Kwarteng, the chancellor, to gamblers, she said: “they’re not gambling