Rachel Reeves, the UK's first female chancellor, is described as "serious" and "determined" but also has a human side with a love for Beyoncé tracks. Born in 1979, she grew up in a financially conscious household and has a background in economics. Reeves has vowed to focus on "jobs, growth, and prosperity," which aligns with Labour's economic plans. In the 2024 general election, Labour won a landslide majority, with the Conservatives experiencing their worst result in history. Reeves, a former Bank of England economist, has been appointed as chancellor of the exchequer, emphasizing the party's focus on economic growth and wealth creation. She aims to show strong fiscal discipline and has been compared to Margaret Thatcher for her determination. Reeves also plans to pursue a form of renationalization, particularly in the energy sector, drawing inspiration from US President Joe Biden's policies. As the first female chancellor, she aims to inspire young girls and women to have ambitious career goals. Reeves faces the challenge of boosting Britain's productivity growth and reviving struggling public services, with a focus on unlocking private investment. Additionally, Prime Minister Keir Starmer has appointed Angela Rayner as levelling up secretary and Yvette Cooper, a New Labour veteran, to key positions in the new cabinet. These appointments reflect Labour's efforts to reshape its relationship with the business community and emphasize fiscal discipline.
