In a historic move, Labour leader Sir Keir Starmer has named Rachel Reeves as his Chancellor of the Exchequer, making her the first woman to hold the position in its 803-year history.
Reeves, 45, brings a strong economic background to the role. A former Bank of England economist, she has positioned herself as a champion of fiscal responsibility, pledging to never “play fast and loose” with the nation’s finances. This stance is seen as crucial in bolstering Labour’s economic credibility with voters and providing reassurance to the business community after years of political and economic turbulence.
Born in London to teacher parents, Reeves excelled academically, studying at Oxford and the London School of Economics before embarking on a career in finance. Her appointment is viewed as a strategic move by Starmer to present Labour as a competent steward of the economy.
Reeves’ journey to the top of British politics began early, joining the Labour Party at 16. Her commitment to social democratic values, influenced by her father, has been a constant throughout her career.
As the UK faces ongoing economic challenges, all eyes will be on Reeves to see how she plans to navigate the country’s finances and implement Labour’s economic vision.
