Rachel Reeves
Chancellor of the Exchequer
Rachel Reeves
Chancellor of the Exchequer
Wales Hit by £65m Shortfall as UK Treasury Fails to Compensate for National Insurance Rise
- Wednesday, 02 April 2025
Welsh Labour Finance Secretary Mark Drakeford criticized Chancellor Rachel Reeves for not compensating Welsh public services fully for the National Insurance rise. He claimed that using the Barnett formula to calculate funding would leave Wales £65m short, while England's public sector employers would be fully covered. Labor Blaenau Gwent Senedd member Alun Davies called it a "proper scandal", and Plaid Cymru described it as "shocking". Drakeford said the UK Treasury made the wrong choice and that Welsh public services will look to see if they can do anything to help those affected.
Labour Leaders' Luxury: Starmer and Reeves Dodge Energy Hikes with 'Cap' on Downing Street Bills
- Tuesday, 01 April 2025

Keir Starmer and Rachel Reeves, the PM and Chancellor, respectively, are exempt from some of the April bill hikes due to the "cap" on bills at their Downing Street flats. They only pay 10% of their ministerial salaries (£3,000) towards utilities and expenses, which won't increase. Additionally, they benefit from low council tax rates in Westminster, with a Band H charge of £2,034 for their residences, compared to over £5,000 in Rutland.
Reeves Drops Concert Tickets After Backlash: No More Free Shows for Chancellor
- Friday, 28 March 2025

Chancellor Rachel Reeves has decided not to accept free concert tickets again after facing backlash over her attendance at a Sabrina Carpenter gig. She had previously defended accepting £600 worth of tickets for herself and a family member, citing security needs and wanting to do "normal everyday things" with her family. However, she now says she understands the negative perceptions and has no intention of taking concert tickets in the future, only accepting free hospitality if necessary for work events like formal dinners or events.
Reeves Proposes Deep Spending Cuts Amid Global Economic Uncertainty
- Friday, 07 March 2025
Rachel Reeves' proposed spending cuts will trigger significant political arguments. The cuts confirm that the Office for Budget Responsibility (OBR) believes the Chancellor's "headroom" has been eliminated, eliminating any leeway before breaking self-imposed borrowing rules. The government attributes this to global factors such as President Trump's tariffs and inflation, while the Conservatives argue that rising borrowing costs predated Trump's presidency and tax rises in the October Budget stunted growth.