Rachel Reeves has appeared on the steps of Downing Street with the traditional red box ahead of her first Budget - and the UK’s first to be presented by a female chancellor.
After months of warning the public of the “tough choices” ahead, Ms Reeves is expected to promise to “invest, invest, invest” in order to “fix public services” in Wednesday’s Budget.
The FTSE 100 was down by 0.5 per cent and the midcap FTSE 250 fell by 0.2 per cent, just hours before the first Labour Budget in 14 years.
Reeves is expected to say in her speech at 12.30pm: “My belief in Britain burns brighter than ever. And the prize on offer today is immense.
“More pounds in people’s pockets. An NHS that is there when you need it. An economy that is growing, creating wealth and opportunity for all. Because that is the only way to improve living standards.
“And the only way to drive economic growth is to invest, invest, invest. There are no short cuts. To deliver that investment we must restore economic stability.”
The minimum wage will increase to £12.21, the Treasury revealed on Tuesday evening.
Budget 2024 latest news
- Rachel Reeves expected to announce up to £35bn in tax hikes
- What are the timings for today?
- Chancellor pledges to ‘invest, invest, invest’ as she prepares to unveil Budget
- Martin Lewis issues warning hours before Budget
- Businesses struggling with minimum wage increases, chancellor told
Starmer leaves Downing Street for PMQs
11:42
Joe Middleton
Sir Keir Starmer has left Downing Street and will face off against Rishi Sunak at PMQs at noon before Rachel Reeves deliver her first Budget at 12.30pm.
What won’t be in the Budget? Labour’s less likely options weighed up
11:30
Joe Middleton
The UK will today hear Labour’s first Budget since coming into power, as speculation mounts around what measures could be making the cut.
Tax rises have been confirmed by Labour, with Keir Starmer telling reporters he would defend them “all day long.” Both the PM and chancellor Rachel Reeves have reiterated the party’s message that “tough decisions” are needed for economic growth.
Experts predict these will come in the form of increases to taxes like capital gains, employer national insurance, and freezing income tax.
But there are several other tax-raising measures that some are hoping for, but know are unlikely to come.
Reeves to be grilled on Budget by new Treasury committee
11:23
David Maddox
The Commons Treasury committee has announced a series of evidence sessions which will scrutinise the Autumn Budget.
The first session will see questions put to the Office for Budget Responsibility (OBR) on its economic and fiscal forecast, taking place on Tuesday 5 November. MPs will then gather the views of leading economists.
The following day, the Treasury committee will question Rachel Reeves, on her Budget on Wednesday 6 November.
The committee’s scrutiny is likely to examine whether the Chancellor’s new fiscal rules are right for the health of the UK economy and changes to spending, taxation and debt.
Pictured: Reeves departs No 11 with red box
11:22
Joe Middleton
Rachel Reeves has been photographed leaving No 11 this morning. In just over an hour Ms Reeves will deliver the first Labour Budget in 14 years.
Analysis: Reeves’ buzz phrases for the bingo card
11:15
David Maddox
For those looking out for buzz phrases which Rachel Reeves will be trotting out in her Budget speech, there are plenty to fill a bingo card.
Top will be “working people” a phrase Labour has struggled to explain but one they hope resonates with voters.
Also look out for: Tory inheritance, £22 billion black hole, fixing the foundations, mission driven, and economic growth, pounds in people’s pockets, economic stability, no austerity, rebuild Britain, first Labour budget in 15 years, first female chancellor, and Liz Truss.
National insurance, capital gains, fuel duty: The tax rises which could affect you in today’s Budget
11:00
Joe Middleton
Rachel Reeves will announce Labour’s first Budget in 15 years today, as speculation mounts around what measures could be included.
The chancellor faces a difficult task, with the fiscal event set against the backdrop of the £22bn ‘black hole’ in public spending which she announced in late July.
Prime minister Sir Keir Starmer has likewise warned the fiscal event is going to be “painful” but that there is “no other choice given the situation that we’re in”.
Here’s your guide to some of the tax rises the chancellor could be considering for her first Budget:
Top research institute says UK at ‘critical juncture’ and urges Reeves to ensure long-term financial stability
10:52
Joe Middleton
The National Institute of Economic and Social Research has said that the UK is at a “critical juncture” and said it hoped that Rachel Reeves was able to create the space needed to drive investment.
Monica George Michail, NIESR associate economist said: “The UK is at a critical juncture: after years of sluggish growth and deteriorating public infrastructure, a sustained rise in government investment is vital to promote long-term growth and boost living standards.
“Growing demands for defence and green infrastructure further add urgency for decisive action to secure the UK’s economic future.
“We look forward to the Chancellor’s budget announcement today and hope the new fiscal rules will strike a balance between creating fiscal space and ensuring long-term financial stability.”
Autumn budget 2024: 8 predictions to watch out for – from winter fuel to inheritance tax
10:30
Joe Middleton
Rachel Reeves is set to unveil Labour’s first Budget in a generation on Wednesday – and the first ever written by a female chancellor.
She has warned that it will involve “difficult decisions” – as she blamed the last Tory government for leaving a £22bn black hole in the public finances.
Paul Johnson, the director of the high-respected Institute for Fiscal Studies (IFS) think tank has already said it could be the “biggest tax-raising budget” ever and yet it still could leave “a lot of public services still feeling squeezed”.
Here we take a look at some of the key measures expected:
Analysis: Rishi Sunak’s curtain call
10:25
David Maddox
One of the less discussed stories of today’s events is the Rishi Sunak will be making his final appearance as Tory leader.
By Saturday either Kemi Badenoch or Robert Jenrick will be elected to replace him and a new era in Conservative politics will begin.
Sunak today will be very much attempting to defend his legacy as chancellor and prime minister amid claims from Rachel Reeves that he left a terrible inheritance.
But the questions going forward will be what he does next. Will he sit on the backbenches and stay an MP? Will he set up his own foundation Tony Blair style? Or is his future in California working for someone like Elon Musk?
It could be that his replacement may be fighting a by-election sooner rather than later.
FTSE 100 slumps ahead of Budget
10:08
Joe Middleton
The FTSE 100 has dropped in early trading as investors brace themselves for Rachel Reeves Budget in just a few hours.
UK stocks fell as the chancellor is expected to announce up to £35bn in tax rises and also a number of spending cuts.
At 8.50pm the FTSE 100 was down by 0.5 per cent and the midcap FTSE 250 fell by 0.2 per cent.
Rachel Reeves is Britain’s first ever female chancellor – there’s ‘peril’ in that
10:00
Joe Middleton
Britain has had three female prime ministers but Rachel Reeves is the first woman to head up the Treasury. Cathy Newman looks at why that matters and hears from the chancellor about her pride at being the one to break the glass ceiling, but how breaking up the urinal in her private office was a whole different matter…
Analysis: No drowning her sorrows - Reeves won’t have a tipple during Budget speech
09:50
Joe Middleton
Under a long standing tradition chancellors can drink alcohol as they set out the details of their Budget to parliament.
But Rachel Reeves will not be downing a tipple as she sets out what could be the biggest tax rises in a generation.
Instead, Britain’s first female chancellor has opted for water instead. At all other times, except the budget, alcohol is banned.
Former chancellor Ken Clarke was the last politician to take advantage of this privilege when he was in post during the mid- 1990s. Mr Clarke was partial to a glass of Glenfarclas whisky while delivering the Budget.
Labour will not shy away from tough decisions in the Budget, says Starmer
09:36
Joe Middleton
Just hours before the Budget is due to be delivered by chancellor Rachel Reeves the prime minister has posted a message on social media.
Sir Keir Starmer said it is a “huge day” for Britain and that the government will not shy away from the “tough decisions” needed to grow the economy.
This is a huge day for Britain.
— Keir Starmer (@Keir_Starmer) October 30, 2024
After 14 years of decline, we will invest in our country - rebuilding our schools, hospitals and roads.
We won’t shy away from the tough decisions to grow our economy and protect working people’s payslips.
There is a brighter future ahead.
Rachel Reeves issues final message ahead of historic autumn Budget
09:30
Joe Middleton
Rachel Reeves issued a final message before Labour’s first Budget in 14 years was presented to the public on Wednesday, 30 October.
In a video posted to her social media pages, the chancellor described how she “likes graphs and spreadsheets” and has been “poring over the detail” of the government’s upcoming economic announcements.
Labour vowed not to raise taxes on “working people” in the days before the Budget announcement.
However, other rumoured tax rises led critics to question who falls under Labour’s definition of “working.”
The prime minister said the UK’s working people “know exactly who they are.”
Analysis: Reeves' House of Horrors
09:15
David Maddox
When Rachel Reeves gets up in the Commons today for what is already being dubbed the Halloween Budget, the only question remaining seems to be what new horrors does she have to reveal.
Already we know of an expected £35bn tax raid, the biggest in history, including capital gains, employer national insurance contributions, VAT on independent school fees and abolition of non dom status.
But with a desperate amount of pre Budget expectation management of “tough choices” and “dreadful inheritance left by the Tories” including the alleged £22 billion black hole none of this will be a surprise.
After boxing herself into a position of no austerity and no rises in income tax, employee national insurance contributions and VAT, Ms Reeves knows she has to act dramatically so as not to spook the markets.
The problem is that her Halloween Budget seems to be full of tricks and lacking in treats. The only issue now is whether it is as bad as expected or even worse.
Pictured: Ministers arriving for Cabinet
09:09
Joe Middleton
Ministers have been pictured arriving for Cabinet, with deputy prime minister Angela Rayner and home secretary Yvette Cooper both spotted outside No 10.
However, no sign yet of chancellor Rachel Reeves as of yet.
Voices: There’s a good reason why this is the leakiest Budget in history
09:00
Joe Middleton
Commons speaker Lindsay Hoyle is furious about pre-Budget briefings – but getting the bad news out early will avoid spooking markets, and the government can focus on the (limited) good news, says John Rentoul
Watch: Martin Lewis issues pension credit warning to Rachel Reeves hours before budget
08:45
Joe Middleton
Reeves expected to go for £35bn tax raid
08:30
David Maddox
Rachel Reeves is expected to bring in £35 billion of tax rises in her Budget today, one of the biggest tax hikes in history, as she tries to fill a £40 billion spending gap in Labour’s plans.
Britain’s first female chancellor with the first Labour government Budget in 15 years is still prioritising economic growth but has vowed to use taxpayers’ money to “invest, invest, invest.”
However, after agreeing to “no new austerity” after facing a cabinet rebellion over departmental cuts, Ms Reeves has been forced to look at taxation to meet Labour’s priorities including a 4 per cent rise in NS funding.
Today’s Budget is expected to see increases in employer contributions for national insurance as well as capital gains tax on assets apart from second homes.
There is also expected to be a rise in inheritance tax and income tax thresholds are expected to be frozen until 2030 dragging in more money.
Ms Reeves has also loosened up spending rules to give herself more flexibility.
Armed forces ‘in line for £3bn boost’ in Budget
08:25
Joe Middleton
The armed forces are in line for a £3 billion boost, according to reports, as Rachel Reeves prepares to unveil the Labour government’s first Budget in just a few hours.
The chancellor is set to announce an increase in the defence budget for next year in her fiscal statement in the Commons on Wednesday, part of which will be used to give soldiers a pay rise backdated to April, the Telegraph reported.
The funding will also be used to buy weapons, with the aim of replenishing stockpiles depleted by donations to Ukraine.
A pathway to increasing defence spending to 2.5 per cent of national economic output demanded by the Tories will not be in the Budget.
What are the timings for today?
08:14
Joe Middleton
- Chanellor Rachel Reeves will address Cabinet at 9am.
- She will emerge from Downing Street with her iconic red box at around 11am.
- Ms Reeves will take her place next to prime minister Keir Starmer through PMQs at noon.
- She will then deliver the Budget at 12.30pm.
At The Independent we will provide live coverage throughout the day of Ms Reeves Budget and all the reaction throughout the day.
Rachel Reeves expected to announce up to £35bn in tax hikes
07:58
Andy Gregory
Rachel Reeves is expected to announce up to £35bn in tax hikes in today’s Budget, as she seeks to plug the so-called £22bn “black hole” which Labour says has been left by the Tories.
These may include a rise in employers’ national insurance contributions and an increase in capital gains tax, according to reports.
Earlier this week, Sir Keir Starmer laid the ground for taxes to rise, as he insisted it was “time to embrace the harsh light of fiscal reality so we can come together behind a credible, long-term plan”.
Labour MP: Days of Boris Johnson’s boosterism are over
07:53
Andy Gregory
An influential new Labour MP has said the days of Boris Johnson’s boosterism are over and that Rachel Reeves is prepared to do “the hard yards” to make Britain great again, reports our political correspondent Archie Mitchell.
Torsten Bell said “everybody has given up” on the former prime minister’s approach of, “if you just say Britain is great, then that will make it great”.
“We have to do the hard yards of making it great again, and that is what we are going to do,” Mr Bell said.
The former director of the Resolution Foundation think tank said the British public “are not stupid” and will give Labour time to see “whether we are in the business of starting to turn this country around”.
He told Sky News: “Does that mean they like every measure we take in terms of how we do that? No, that's politics, but, but we will expect to see results come the next election.”
Who is Rachel Reeves? From child chess champion to first female chancellor
07:44
Andy Gregory
In this video report, The Independent takes a closer look at the chancellor’s life, from being raised in southeast London by her teacher parents, to becoming a school chess champion and working at the Bank of England:
My colleague Shabnoor Irshad has more details here.
Armed forces in line for £3bn Budget boost, report suggests
07:37
Andy Gregory
The armed forces are in line for a £3bn boost in the new Labour government’s first Budget, according to reports.
The chancellor is set to announce an increase in the defence budget for next year in her fiscal statement in the Commons on Wednesday, part of which will be used to give soldiers a pay rise backdated to April, the Telegraph reported.
The funding will also be used to buy weapons, with the aim of replenishing stockpiles depleted by donations to Ukraine.
However, a pathway to increasing defence spending to 2.5 per cent of national economic output as demanded by the Tories will not be in the Budget, the paper reported.
Warnings and concerns dominate build-up to Reeves’ Budget
07:30
David Maddox
Rachel Reeves has promised to “invest, invest, invest” as she seeks to put “more pounds in people’s pockets”.
But the more positive tone has come after months of warning the public of the tough decisions that lay ahead.
Now, Ms Reeves faces growing numbers of warnings and concerns as details of her budget emerge.
Here are some of the fears raised about the impact of some of Ms Reeves’ measures:
- Trade union leaders have told her that if she is genuine about an end to austerity, she will have to fund massive public sector pay rises in the new year
- The hospitality industry has warned that a 6.7 per cent hike in the minimum wage will leave the sector as “collateral damage”
- Question marks have been raised over whether her expected 4 per cent increase in NHS spending will be enough to cut waiting lists after the bumper pay deal she agreed to for doctors
- Manchester’s Labour mayor Andy Burnham has come out against a 50 per cent rise in the bus fare cap to £3
Smaller than usual minimum wage rise is sensible, economist says
07:01
Alex Croft
The minimum wage rise will be the first time in nearly a decade that it has not risen faster than typical wage growth, according to a leading economist.
“This smaller rise in the minimum wage – the first time in almost a decade when it has risen no faster than typical wage growth – is sensible in the context of an expected rise in employer national insurance contributions at the same time,” said Nye Cominetti, the principal economist at the Resolution Foundation think tank.
He said the Low Pay Commission should monitor the impact of higher minimum wage rates on employment, including the risk of firms switching to self-employed labour to minimise tax bills.
We’ll be covering the budget live all day
06:30
Alex Croft
The Independent will be bringing the latest updates on the Budget throughout the day.
Labour’s first budget since March 2010 is set to lay out major changes to the UK’s taxation, borrowing, and spending commitments.
Here are some things we might expect:
1. Tax rises. An increase on raise employer national insurance payments is one of a number of taxes Labour could be set to increase. This also includes Inheritance Tax and the removal of the VAT exemption on private schools.
2. Borrowing. After an adjustment to fiscal rules, Reeves is expected to have up to an extra £50bn of borrowing to invest in infrastructure building such as roads, railways and hospitals.
3. Fuel duty and winter fuel payments. Ministers have already announced plans to remove the winter fuel payment from millions of pensioners, instead introducing a means-testing system. Ministers have also faced calls not to increase fuel duty.
4. Education. Rachel Reeves is believed to have set aside £1.4 billion for crumbling schools, in a budget which she says will prioritise education and childcare. An extra £1.8 billion will expand government-funded nursery care.
5. Health. Ms Reeves is expected to announce a funding deal for the NHS which goes far beyond inflation.
Stay with us for all the latest on Ms Reeves autumn budget.
Unions tell Reeves they expect huge public sector pay rise in new year despite £40bn Budget black hole
06:00
David Maddox, Kate Devlin
Trade union leaders are already squaring up for a fight with Rachel Reeves over pay, even before she has published her first Budget.
The Independent has been told that union bosses have made it clear they expect massive public sector rises in the new year “after 14 years of Tory austerity and wage constraint”.
It is another headache for the chancellor who is expected to be forced to bring in some of the biggest tax rises in history to cover a £40bn black hole in Labour’s spending plans. Ms Reeves is expected to increase employers national insurance contributions and capital gains tax among a range of measures.
What is Labour’s controversial private school VAT raid policy?
05:02
Alex Croft
The government is set to end tax breaks for private schools in a controversial new policy.
Labour plans to remove the VAT exemption and business rates relief for independent schools from January, with parents set to foot the cost.
The move has faced ongoing backlash from the sector, including over the disproportionate impact on already-stretched smaller, specialist schools, as well as the short timescale involved and fears of a mass exodus of pupils.
Martin Lewis issues pension credit warning to Rachel Reeves hours before budget
04:00
Alex Croft
Martin Lewis has issued a pension credit warning to chancellor Rachel Reeves just hours before the autumn UK budget.
The Martin Lewis Money Saving Show returned on Tuesday (29 October), and saw the financial guru take a question about the winter fuel payment from a woman whose husband died just two weeks ago.
The woman wanted to know if she would be eligible for pension credit.
Mr Lewis said: “You have to be on an income of under £11,400 to be eligible. It’s a very tight means test and is critically underclaimed.”
Mr Lewis then revealed he will host a budget special of his show on Thursday and hopes the chancellor will join him.
He warned: “I will be talking about winter fuel payment without you chancellor, so you may as well be here. It would be a lot better.”
Watch below:
Five key things set to be announced in autumn 2024 budget
03:01
Alex Croft
Full report: Rachel Reeves pledges to ‘invest, invest, invest’ as she prepares to unveil historic Labour Budget
02:00
David Maddox
Rachel Reeves will unveil her historic Budget – the first by a Labour chancellor in 14 years – with a message of hope for the UK as she pledges to deliver economic growth and put money back in people’s pockets with a rise in the national minimum wage.
In what is expected to be a Budget of record-breaking tax rises involving “tough choices” to “fix public services”, Ms Reeves will hold out some hope with a rallying cry that she intends to “invest, invest, invest” to turn the country around.
The rhetoric appears to deliberately echo Tony Blair’s three priorities of “education, education, education” ahead of the 1997 election as Ms Reeves attempts to grasp the optimism of his New Labour government in what is widely expected to be a gloomy Budget.
The Independent’s Political Editor David Maddox reports:
‘Serious concern’ among small business owners about Budget tax rises
01:00
Alex Croft
Small business owners are “seriously concerned” by the possibility of tax rises in the Budget on Wednesday.
Some fear they will need to cut their employee headcount, including paraplanning business owner Steve Luke, 56.
“I’m seriously concerned that if the Budget is as bad as I’m expecting then we may have to reduce the workforce from nine to seven or eight,” he told PA.
Mr Luke says he is concerned the government will not view him as a “working person” in the Budget, as he takes a small salary from the business while also paying himself a dividend due to fluctuating income.
Farmer and landlord Richard Payne, 61, who owns around 500 acres of land and rents 150-200 acres for wheat, barley, oilseed rape and canola farming, says he is “extremely nervous”.
“Whilst I’m probably not going to be clobbered hard on national insurance contributions, because we don’t employ a huge number of people… I’m more worried about taxation on profit, if we make any, and also, in my case, losing agricultural property leave or business property relief on our assets,” he said.
Joy Francis, 76, the owner of two nurseries and employer of 22 people, fears the increase on employer’s national insurance contributions.
“(The Government) just doesn’t seem to grasp the concept of small businesses being the backbone of the economy and we’re not all money-grabbing people with shareholders to pay.”
Chancellor must fund Scotland “immediately and significantly”, John Swinney says
00:02
Alex Croft
Funding for Scotland must increase “immediately and significantly” in Wednesday’s budget, first minister John Swinney has said.
At a reception for business leaders on Tuesday, Mr Swinney said: “The Office for Budget Responsibility highlighted recently the potential for public investment to deliver permanent improvements in the economy.
“It is welcome that my calls for the Chancellor to amend her fiscal rules have been heard, with indications last week that there will be scope for greater investment.
“The Chancellor has the chance to choose to deliver a UK Budget that invests in our public services and supports the entrepreneurial spirit displayed in Scotland’s business sector.
“With these new rules in place, the Chancellor must use the fiscal headroom they create to deliver a Budget that immediately and significantly enhances Scotland’s resource and capital funding, enabling us to invest more in our public services and take forward the vital infrastructure projects that support economic growth, net zero, and action to tackle child poverty.”
The Scottish government recently made more than £500 million of in-year cuts, with Scotland’s finances in significant difficulty.
Mr Swinney has also called for an Acorn carbon capture and storage facility in the north east of Scotland to be funded after it was overlooked twice by successive UK governments.
Daily Record: Axe 2-child cap if you want to help kids
Tuesday 29 October 2024 23:45
Alex Croft
Scottish first minister John Swinney has called on Rachel Reeves to use the Budget to scrap the two-child benefit limit, the Daily Record reports.
Daily Record: Axe 2-child cap if you want to help kids #TomorrowsPapersToday pic.twitter.com/YhkZg0nxir
— George Mann (@sgfmann) October 29, 2024
The Guardian: Chancellor hails 6.7% minimum wage rise
Tuesday 29 October 2024 23:15
Alex Croft
The Guardian’s front page leads with Rachel Reeves’ 6.7 per cent increase on the National Living Wage - otherwise known as the minimum wage.
The increase will see the hourly rate increase to £12.21, amounting to an extra £1,400 annually for those on the lowest income.
The Guardian: Israeli strikeon flats in northern Gaza kills at least 93 #TomorrowsPapersToday pic.twitter.com/YGmFjWW8G8
— George Mann (@sgfmann) October 29, 2024
Every way Labour has defined ‘working people’ ahead of the Budget
Tuesday 29 October 2024 23:00
Albert Toth
Labour ministers have been drawn into a debate around “working people” in recent days as the party vows not to raise taxes on them at Wednesday’s Budget.
In their pre-election manifesto, the party pledged not to increase income tax, national insurance, or VAT as part of their commitment to keep taxes low for these “working people.”
But other rumoured tax rises have led critics to question who exactly falls under Labour’s definition of ‘working’.
There’s no tax rise that can avoid everyone’s pockets, but with around 50 per cent of UK citizens considering themselves working-class, Labour has been pressed to clarify who falls under the party’s definition.
Read what Labour ministers have said here:
I’ll put more pounds in people’s pockets - Reeves
Tuesday 29 October 2024 22:30
Alex Croft
Rachel Reeves will pledge to put “more pounds in people’s pockets” when she stands at the dispatch box for the first Labour budget since March 2010.
It comes despite repeated warnings of tough decisions ahead as she looks to fix the NHS and grow the economy through a series of tax hikes and borrowing increases.
The “prize on offer” for Labour’s plans is “immense”, Ms Reeves is expected to tell MPs in her speech tomorrow. She added that there are “no shortcuts” to driving the economic growth Labour has promised.
Reeves is expected to say in her speech: “My belief in Britain burns brighter than ever. And the prize on offer to today is immense.
“More pounds in people’s pockets. An NHS that is there when you need it. An economy that is growing, creating wealth and opportunity for all. Because that is the only way to improve living standards.
“And the only way to drive economic growth is to invest, invest, invest. There are no shortcuts. To deliver that investment we must restore economic stability.”
Report: Keir Starmer suffers ‘unprecedented’ collapse in popularity for new PM
Tuesday 29 October 2024 22:02
Alex Croft
Sir Keir Starmer’s approval rating has collapsed more significantly after winning an election than any other prime minister in modern history, a new poll has shown.
Following the July election, which saw the Labour Party win a landslide majority of 174 seats, the prime minister approval rating reached a high of plus 11.
But by October, just days before Rachel Reeves’ Budget on Wednesday, new polling from More in Common showed that the prime minister’s personal approval rating has fallen to -38 – a net drop of 49 points.
In pictures: Rachel Reeves prepares for biggest moment of her career
Tuesday 29 October 2024 21:02
Alex Croft
Opinion: Rachel Reeves is Britain’s first ever female chancellor – there’s ‘peril’ in that
Tuesday 29 October 2024 20:31
Alex Croft
When Rachel Reeves became the first female chancellor since the post was created 800 years ago, there was no disguising her pride in her historic achievement.
In her very first speech to Treasury staff, she remarked on what a “huge privilege” it was. Beaming from ear to ear, she positioned herself as a standard bearer for “every young woman and girl” to demonstrate that “there should be no ceilings on your ambitions, your hopes or your dreams”.
Read Cathy Newman’s column here:
