Meet Rachel Reeves, First Woman To Become UK's Chief Finance Minister

Entering politics at the age of 16, Rachel Reeves embodied a zealous spirit to make a difference in government; and on July 4, 2024, she achieved a significant milestone in her career and the history of the United Kingdom. The 45-year-old became the first woman finance minister of the country, setting a precedent for women in politics. The loyal member of the Labour Party wrote on X, "To every young girl and woman reading this, let today show that there should be no limits on your ambitions," acknowledging her appointment by new Prime Minister Keir Starmer.

Who Is Rachel Reeves?

Rachel Reeves has broken new grounds in politics as she became the chancellor of the exchequer, marking a historic moment for the UK. Her centre-left Labour Party the general election by a landslide, ending 14 years of rule by the right-wing Conservatives. The party's manifesto pivoted around economic growth.

It is the honour of my life to have been appointed Chancellor of the Exchequer.

Economic growth was the Labour Party’s mission. It is now a national mission.

Let’s get to work. pic.twitter.com/PchJFePDJa

— Rachel Reeves (@RachelReevesMP) July 5, 2024

"Economic growth was the Labour Party's mission, It is now a national mission. Let's get to work," Reeves expressed on X. Reeves' career in politics has been defined by her dedication to economic reform and social justice. Her priorities as chancellor are to target growth and wealth creation.

Born in 1979 to educationists in London Borough Lewisham, Reeves was always dedicated to comprehensive education and passion for learning. She completed her Bachelor of Arts degree at New College, Oxford, and then a Master of Science in Economics from the prestigious London School of Economics.

Reeves started her career with the Bank of England soon after graduation. She is also a former chess prodigy who won several championship titles as a young child. She was inclined towards democratic politics owing to her father's influence since childhood. She joined the Labour Party as a teen in 1995.

In 2010, when the Conservatives entered power in a coalition with the Liberal Democrats, Reeves was elected Labour Member of Parliament for Leeds West in northern England. Eleven years later, Starmer appointed her as Labour's finance spokesperson. Her sister, Ellie Reeves, is also a Labour MP.

Reeves tapped into the public anger over Liz Truss, whose unfunded 2022 mini-budget crashed the pound and sent mortgage rates soaring, worsening a cost-of-living crisis. She said that Labour had become "the natural party of British business", adding that they would show "iron discipline" over public finances.