Politics explained

What would Rachel Reeves as chancellor mean for the country – and your pocket?

The shadow chancellor is currently on course to be the first woman to take control of the nation’s finances – and has won the backing of former Bank of England governor Mark Carney. So, asks Sean O’Grady, what would she put in her first Budget, and how would that affect you?

Monday 09 October 2023 22:16 BST
(Getty Images)

In a confident speech, the shadow chancellor Rachel Reeves told the Labour conference that, “when we next meet, I intend to address this hall as Britain’s first female Chancellor of the Exchequer”.

Since her appointment by Keir Starmer in May 2021, she has become the de facto deputy leader of the party and enjoys Starmer’s confidence like no other of his senior colleagues. The feeling is mutual. Unlike so many of her recent predecessors, she has been creative in her role, which is especially difficult at a time when the public finances are so tight and economic growth so sluggish.

The time has come to wonder what a Reeves chancellorship would look like...

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