Rachel Reeves received the "full backing" of Sir Keir Starmer after the chancellor was seen with tears rolling down her eyes in the House of Commons.
The Labour party rushed to throw its support behind Reeves amid concerns that the incident signalled tensions within its inner ranks as rumours swirled that there had been an argument.
It came as Reeves could be seen sitting on the front bench in the Commons, looking visibly emotional and tearful as Starmer spoke.
See also: A year that ends in tears: Rachel Reeves’s first year is no cause for celebration
The Chancellor’s spokesperson later claimed that Reeves had been impacted by a “personal matter”, with both No10 and No11 denying claims Reeves and Starmer had argued shortly before PMQs.
"The Chancellor is going nowhere. She has the Prime Minister's full backing,” said the spokesperson.
"He has said it plenty of times, he doesn't need to repeat it every time the Leader of the Opposition speculates about Labour politicians. The Chancellor and the Prime Minister are focused entirely on delivering for working people.”
So who is Rachel Reeves? Here is what we know about the serving chancellor.
Who is Rachel Reeves?
Rachel Reeves has served as the Member of Parliament (MP) for Leeds West since 2010 and as the shadow chancellor since May 2021.
She is now the chancellor since Labour won the election.
Below is a detailed overview of her life and career:
Early life and education
- Birth: Ms Reeves was born on February 13, 1979, in Lewisham, London.
- Family background: She comes from a family emphasising public service; her father was a teacher and her mother worked as a social worker.
- Education: Ms Reeves attended Cator Park School for Girls in Bromley. She told the Daily Telegraph in 2022 how she would work on school projects during the holidays because she liked to "do well at things" and get "top marks". She later studied at New College, Oxford, earning a philosophy, politics, and economics (PPE) degree. Subsequently, she completed a master’s degree in economics from the London School of Economics.
Professional career before politics
Before entering politics, Ms Reeves worked as an economist. She began her career at the Bank of England and later worked as an economist at the British Embassy in Washington, DC. She also worked for Halifax Bank of Scotland (HBOS) and in the private sector for the management consulting firm Bank of America Merrill Lynch.
What is Rachel Reeves’s constituency?
Ms Reeves has been MP for Leeds West since 2010.
She first contested for the Labour Party in the 2005 general election in the constituency of Bromley and Chislehurst but was not elected.
Positions held:
- Shadow Chief Secretary to the Treasury: In 2011, she was appointed to this role, shadowing the Chief Secretary to the Treasury.
- Shadow Secretary of State for Work and Pensions: In 2013, she was promoted to this position, where she focused on welfare issues and was known for her stance on reforming the welfare system.
- Chair of the Business, Energy and Industrial Strategy Committee: From 2017 to 2020, she chaired this influential committee, overseeing business and industrial policy.
- Shadow Chancellor of the Duchy of Lancaster: Appointed in April 2020, she significantly scrutinised the Government’s response to the Covid-19 pandemic.
- Shadow Chancellor of the Exchequer: In May 2021, Labour leader Sir Keir Starmer appointed her to this senior role, where she became responsible for the party’s economic policies and approach to public finances.
- Chancellor of the Exchequer: Appointed by PM Keir Starmer after winning the election in July 2024.
Political stance and achievements
Ms Reeves is known for her pragmatic approach to monetary policy, advocating fiscal responsibility while promoting investment in public services and infrastructure.
She has been instrumental in modernising the Labour Party's economic stance, emphasising the need for a strong and responsible fiscal policy to gain public trust.
Ms Reeves has been vocal about the importance of addressing climate change and has supported various social justice initiatives.
Is Rachel Reeves married?
Ms Reeves is married to Nicholas Joicey, a civil servant who has worked in senior positions at the Treasury and the Department for Work and Pensions.
The couple have two children. Ms Reeves’ sister, Ellie Reeves, is the Labour MP for Lewisham West and Penge.
On top of her political career, Ms Reeves is an author and has written books on economic and social history, including a biography of Alice Bacon, the first female MP for Leeds.
She has a keen interest in history and is known to be a fan of cycling and running. Sky News reported that Ms Reeves's competitive streak defines her love of chess, which her father taught her when she was seven, giving her the "chess bug". She later became the British girls' under-14 champion.
