Chancellor of the Exchequer
The Rt Hon Rachel Reeves MP
Biography
Rachel Reeves was appointed Chancellor of the Exchequer on 5 July 2024. She was elected as the MP for Leeds West and Pudsey in July 2024.
Chancellor of the Exchequer
The Chancellor of the Exchequer is the government’s chief financial minister and as such is responsible for growing the UK economy, raising revenue through taxation or borrowing and for controlling public spending. She has overall responsibility for the work of the Treasury.
The Chancellor’s responsibilities cover:
- Delivering the government’s growth mission
- Fiscal policy (including presenting the annual Budget)
- Oversight of the monetary framework, including setting the inflation remit, and liaison with the Governor of the Bank of England on monetary policy
- Women in the economy and the gender pay gap
- UK growth and productivity, including working across government on skills, labour market and migration
- The National Wealth Fund
- Capital markets and listings
- Economic security and resilience policy
- Leading on international economic and financial affairs including at the G7 and G20 and acting as the UK Governor of the IMF, EBRD and AIIB
- Ministerial arrangements (in her role as Second Lord of the Treasury)