An investigation into chancellor Rachel Reeves, who broke local housing rules when renting out her family home, is “not necessary”, the prime minister has said.

Prime Minister Keir Starmer gave his Reeves his backing after consulting his independent ethics adviser, Sir Laurie Magnus.

The PM described her “prompt action” to obtain a licence and apology as “sufficient”.

On Wednesday, Reeves admitted that she did not obtain the required “selective” rental licence for her south London home when she moved into No 11 Downing Street in 2024, after Labour won the election.

Southwark Council requires people renting out their properties in certain areas to get one of the licences in advance and not doing so can lead to a prosecution or a fine.

It is understood that the chancellor accepts she sh

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