The economic news is deeply troubling. The pound has fallen to its lowest level in over a year, and borrowing costs have reached their highest level in almost 30 years.

These borrowing costs are no trivial matter either. With the yields rising higher and higher ever more of the British taxpayer's hard-earned cash will be spent not on supporting public services like the NHS, as Labour has claimed, or boosting our armed forces, but instead simply on keeping Labour's debt bill serviced and the public finances afloat.

There is no doubt as to the cause of this. After the endless warnings from consumers, business groups, independent watchdogs and even the Bank of England itself, the true impacts of Rachel Reeves' budget are being revealed.

Labour have tried to put on a brave face, to tell the public that everything is ok, and to tell the markets that Labour can be trusted with the British economy.

But their actions make clear that even they know that everything is far from fine.

First it was reported that Rachel Reeves is planning to hold an unprecedented emergency intervention - a desperate attempt to talk her way out of this blackhole crisis.

And then yesterday, as the economic turmoil grew ever worse, the Conservatives took action to call the Chancellor before parliament to explain her decisions and outline what steps her government was taking to protect the British public's finances.

But the Chancellor did not even have the wits to turn up.

Instead her deputy sat as an isolated figure on the Labour frontbench - squirming and twisting his way as MPs raised question after question about whether this government is out of its depth and what that means for the cost of living of their constituents, and for the public services they rely on.

And where was Rachel? It seems rather than facing the country she was packing her bags, ready to head for a trip to China.

Like the Prime Minister, the Chancellor is tin eared to the mood of the public. She needs to focus on her day job.

If she does not act soon to clean up this mess of her own making, then this damage will become entrenched - and the British public will never forgive them.