Rachel Reeves: The UK’s First Female Chancellor

Rachel Reeves The UK's First Female Chancellor
Credit: Reuters

A Determined and Serious Leader with a Human Side

Rachel Reeves, often described as “serious” and “determined,” is the first female Chancellor of the United Kingdom. However, friends and colleagues suggest her public persona doesn’t fully reflect her human side, including her loud laugh and love for Beyoncé tracks.

Early Life and Upbringing

Reeves was born in south-east London in 1979, just months before Margaret Thatcher became prime minister. Raised by two teacher parents, she grew up in an environment valuing financial restraint and responsibility. Her parents’ separation during her childhood led her and her sister, Ellie, to split time between two homes.

Early Political Influence

Rachel was politicized by her experiences with public services, particularly after witnessing significant cuts at her school. By 17, she joined the Labour Party, having been influenced by her exposure to the realities of government-funded institutions.

Academic and Professional Background

Reeves studied Philosophy, Politics, and Economics at Oxford University, followed by a career as an economist at the Bank of England. Her work included studying Japan’s economic stagnation and a secondment in Washington DC, where she met her future husband, Nicholas Joicey.

A Quick Rise in Politics

Despite two failed attempts to win a parliamentary seat, Reeves was elected as the MP for Leeds West in 2010. She quickly rose through Labour’s ranks, gaining key shadow roles and a reputation for her thorough preparation and work ethic.

A Chess Champion with Prudence

Rachel’s chess skills, honed in her childhood, reflect her strategic approach to politics. Modelled after Gordon Brown’s fiscal prudence, she is known for her restraint and commitment to responsible economic management.

Challenges and Criticism

Although Reeves has been praised for her hard work and determination, her career has not been without controversy. She faced accusations of hypocrisy regarding unpaid student workers and endured a difficult time during Jeremy Corbyn’s leadership.

Labour’s Economic Plans Under Reeves

As Chancellor, Reeves is inheriting one of the worst economic situations since World War Two. She has pledged to uphold strict fiscal rules while focusing on green investment and boosting productivity through a National Wealth Fund. Her pragmatic approach to economics aligns with her broader values of financial restraint, often reflected in her personal habits.