Who is Rachel Reeves? Britain’s first female chancellor urges girls to strive for their dreams

At her archetypal Mansion House address, she said that “red tape” measures brought successful since the 2008 fiscal situation to “eliminate risk” person had “unintended consequences” successful holding backmost growth.

“While it was close that successive governments made regulatory changes aft the planetary fiscal situation to guarantee that regularisation kept gait with the planetary system of the time, it is important that we larn the lessons of the past,” she said.

“These changes person resulted successful a strategy which sought to destruct risk-taking. That has gone excessively acold and, successful places, it has had unintended consequences which we indispensable present address.”

Here is what we cognize astir the serving chancellor.

Rachel Reeves has served arsenic the Member of Parliament (MP) for Leeds West since 2010 and arsenic the shadiness chancellor since May 2021.

She is present the chancellor since Labour won the election.

Below is simply a elaborate overview of her beingness and career:

Before entering politics, Ms Reeves worked arsenic an economist. She began her vocation astatine the Bank of England and aboriginal worked arsenic an economist astatine the British Embassy successful Washington, DC. She besides worked for Halifax Bank of Scotland (HBOS) and successful the backstage assemblage for the absorption consulting steadfast Bank of America Merrill Lynch.

Ms Reeves has been MP for Leeds West since 2010.

She archetypal contested for the Labour Party successful the 2005 wide predetermination successful the constituency of Bromley and Chislehurst but was not elected.

Ms Reeves is known for her pragmatic attack to monetary policy, advocating fiscal work portion promoting concern successful nationalist services and infrastructure.

She has been instrumental successful modernising the Labour Party's economical stance, emphasising the request for a beardown and liable fiscal argumentation to summation nationalist trust.

Ms Reeves has been vocal astir the value of addressing clime alteration and has supported assorted societal justness initiatives.

Ms Reeves is joined to Nicholas Joicey, a civilian servant who has worked successful elder positions astatine the Treasury and the Department for Work and Pensions.

The mates person 2 children. Ms Reeves’ sister, Ellie Reeves, is the Labour MP for Lewisham West and Penge.

On apical of her governmental career, Ms Reeves is an writer and has written books connected economical and societal history, including a biography of Alice Bacon, the archetypal pistillate MP for Leeds.

She has a keen involvement successful past and is known to beryllium a instrumentality of cycling and running. Sky News reported that Ms Reeves's competitory streak defines her emotion of chess, which her begetter taught her erstwhile she was seven, giving her the "chess bug". She aboriginal became the British girls' under-14 champion.

The fund annouced taxes rises of immoderate £40billion.

A emergence successful National Insurance contributions and the lowering of the NI threshold volition deed businesses, portion landlords buying further homes volition person to wage a batch much stamp duty.

However, she besides announced that the existent frost connected income taxation and National Insurance thresholds volition not beryllium extended beyond 2027/28, saying it would "hurt moving people" to support thresholds frozen.