Rachel Reeves, 45, Becomes First Woman UK Finance Minister

Rachel Reeves, Britain’s first woman finance minister, is a former child chess champion and Bank of England economist who has pledged to grow the nation’s economy while showing strong fiscal discipline.

Reeves, 45, becomes chancellor of the exchequer after her centre-left Labour party won Thursday’s UK general election by a landslide, ending 14 years of rule by the right-wing Conservatives.

“It is the honour of my life to have been appointed chancellor of the exchequer,” Reeves wrote on social media platform X after her appointment by new Prime Minister Keir Starmer.

“To every young girl and woman reading this, let today show that there should be no limits on your ambitions.”

Labour had put the economy at the heart of its election manifesto, targeting growth and wealth creation as key priorities in government, while its emphasis on the latter is not normally associated with the party’s traditionally leftist policies.