rachel reeves
"It's a normal thing for the markets to react to a Budget," Darren Jones told LBC.
The cost of government borrowing has gone up while the value of the pound has fallen.
While there is plenty of anger around the fiscal announcement, there are a few winners.
She said there "will be consequences" because of her decision to increase National Insurance for employers.
Experts have warned that "working people" stand to lose out after the chancellor's record-breaking tax grab.
The Institute for Fiscal Studies believes the chancellor's £40bn tax bombshell will trickle down to employees.
However the Office for Budget Responsibility did not seem to think it was as large as the government has claimed.
It is the biggest tax-raising Budget in history – but Reeves insisted she was not returning to austerity.
The chancellor said the last government "failed this country".
She will become the first female chancellor to deliver a Budget.