Rachel Reeves Has Six Weeks to Lift UK Mood With New Economic Plan
- Chancellor has focused on fiscal rigor at expense of spending
- New Labour government set to deliver first budget on Oct. 30
Rachel Reeves
Photographer: Jeenah Moon/BloombergRachel Reeves has six weeks to come up with a plan to fix the UK’s ailing public services, deliver an economic boost and lift the dour national mood — and all without blowing up the nation’s finances.
A year ago, Reeves roused the Labour Party conference, with a pledge to “restore hope to our politics” by raising living standards, investing in industry and rebuilding public services. But Britain’s first female chancellor has spent her 11 weeks in office highlighting the bleak fiscal inheritance she’s been left, signaling tax rises ahead and dialing down expectations of spending sprees in her inaugural budget on Oct. 30.