 Official portrait, July 2024 | |
| Chancellorship of Rachel Reeves 5 July 2024 – present | |
| Party | Labour |
|---|---|
| Election | 2024 |
| Nominated by | Sir Keir Starmer |
| Appointed by | Charles III |
| Seat | 11 Downing Street |
.svg) | |
Rachel Reeves became Chancellor of the Exchequer on 5 July 2024, upon her appointment by Prime Minister Keir Starmer, following Labour's victory in the 2024 general election. She succeeded Conservative chancellor Jeremy Hunt, and became the first woman to hold the office of Chancellor in its 708-year history.[1]
In this role she has adhered to "modern supply-side economics", an economic policy that focuses on infrastructure, education and labour supply by rejecting tax cuts and deregulation. It is heavily inspired by Joe Biden's economic policy, particularly his Inflation Reduction Act. She coined the term securonomics in 2023 to refer to her version of this economic policy.
- ^ "Reeves becomes first female chancellor and Rayner deputy PM in Starmer's new top team". The Independent. 5 July 2024. Retrieved 5 July 2024.