Rachel Reeves, MP for Leeds West, has been named as the first female chancellor in the UK’s history.

Her appointment comes 45 years after the country’s first female Prime Minister was elected.

Ms Reeves is the 109th Chancellor to hold the position since the role was created in the 16th century.

Ms Reeves studied philosophy, politics, and economics (PPE) at the University of Oxford.

She worked at the Bank of England as an economist before moving to the British Embassy in Washington DC. Reeves was elected to Parliament in 2010 and appointed shadow Chancellor in 2021.

The Chancellor said: ‘Our manifesto was clear: sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people.

‘Where governments have been unwilling to take the difficult decisions to deliver growth – or have waited too long to act – I will deliver.

‘It is now a national mission. There is no time to waste.

‘I want to outline the first steps this new government has taken to fix the foundations of our economy, so we can rebuild Britain and make every part of our country better off.’