Rachel Reeves
Chancellor of the Exchequer
Rachel Reeves
Chancellor of the Exchequer
Rachel Reeves is a British Labour politician who became the first female Chancellor of the Exchequer in 2024, following Labour's general election win. Born in 1979 in Lewisham, London, she studied PPE at Oxford and earned a master’s in economics from the LSE. Before entering politics, she worked as an economist at the Bank of England and HBOS. Reeves has been the MP for Leeds West (now Leeds West and Pudsey) since 2010, holding several key shadow cabinet roles before being appointed Shadow Chancellor in 2021. As Chancellor, she introduced major tax reforms, public sector pay increases, and a National Wealth Fund, while also making some controversial cuts. She is married with two children, and her sister, Ellie Reeves, is also a Labour MP. In 2023, she faced criticism over plagiarism in her book on women economists, with her publisher promising corrections.
IMF Slashes UK Growth Forecast: Domestic Factors Blamed, Not Trump Tariffs
- Tuesday, 22 April 2025
The International Monetary Fund (IMF) slashed its growth forecast for the UK to 1.1%, citing domestic factors such as surging utility bills and higher government borrowing costs, rather than blaming Donald Trump’s tariffs. The IMF warned that the UK faces the highest inflation in the G7, deepening the cost-of-living crisis. The Chancellor attempted to deflect blame by pointing to the tariffs, but the IMF chief economist emphasized that domestic factors are the biggest problems, with tariffs playing a role along with uncertainty.
