Rachel Reeves has warned Labour figures “peddling the idea” the government could abandon fiscal responsibility to free up more money for public spending were “dangerously wrong” and risked serious damage to the economy. But the chancellor also urged Labour to “have faith” that things would get better, despite the difficult economic backdrop. “There is further to go, but whatever tests confront us, have faith because our party and our country have overcome greater challenges than these. In an impassioned speech, Reeves said: “Even now with the global uncertainty that we have seen ripple through financial markets, there are still critics out there who all too readily forget the consequences of reckless economic choices. Let us reaffirm our commitment that we will never, ever do what they did to ordinary working people in this country.