Reeves was appointed by Prime Minister Keir Starmer on Friday following Labour’s landslide victory in the general election the day before.
The woman who will now become the new finance minister, or Chancellor of the Exchequer as it is called in Great Britain, previously worked as an economist at the British central bank, the Bank of England.
She has an enormous task ahead of her to fulfill the new government party’s promises of economic growth and investment in public services, while at the same time getting control of the large national debt.
– Economic growth was the Labor Party’s mission. It is now a national mission. Let’s get started, says Reeves on Friday.
«Securonomics»
Reeves has said that Labor will continue with strict budget management and that it is not appropriate to take out additional loans to finance day-to-day expenses. But she has opened the door to increasing government, loan-financed investments to influence strategically important markets. This is in line with modern “supply-side economics” which is fronted by, among others, US Treasury Secretary Janet Yellen.
Reeves himself has dubbed his own economic policy “securonomics”.
The teacher’s daughter won the British Girls’ Chess Championship at the age of 14. Later, Reeves studied philosophy, politics and economics at Oxford, before taking a master’s degree at the London School of Economics.
– No borders
– It is the greatest honor of my life to be appointed Minister of Finance. To all young girls and women reading this – let this day show you that there are no limits to your ambitions, wrote the mother of two on X Friday.
After working for ten years as an economist, Reeves was elected to the National Assembly from Leeds West in northern England in 2010. Eleven years later, she became Starmer’s fiscal spokesperson. His sister Ellie is also a member of Parliament from Labour.
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2024-07-06 00:59:12
