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Rachel Reeves

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Gender Female
Age 45
Date of birth February 13,1979
Zodiac sign Aquarius
Born Lewisham
London
United Kingdom
Spouse Nicholas Joicey
Office Member of Parliament of the United Kingdom
Job Politician
Economist
Education New College
University of Oxford
London School of Economics and Political Science
BooksAlice in Westminster: The Political Life of Alice Bacon
Why Vote Labour?
Official site members.parliament.uk
Party Labour Party
Position Member of Parliament of the United Kingdom
Member of Parliament of the United Kingdom since 2010
Siblings Ellie Reeves
Previous positionShadow Chancellor of the Duchy of Lancaster (2020–2021)
NationalityBritish
Date of Reg.
Date of Upd.
ID398870
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Rachel Reeves Life story


Rachel Jane Reeves is a British politician and economist serving as Shadow Chancellor of the Exchequer since 2021. A member of the Labour Party, she has been Member of Parliament for Leeds West since 2010.

Biography

Rachel reeves is a member of parliament of the united kingdom.She was born on the 5th of december 1976 in leeds.England.She is 44 years old.Rachel is 5 feet 5 inches tall and weighs around 55 kg.She has brwon eyes and a slim body tpye.Her zodiac sign is sagittarius and she is of british nationality.

Family

Rachel is the daughter of john and mary reeves.She has two siblings.A brother and a sister.She is married to nick smith and they have two chidlren together.

Education and Career

Rachel attended the university of leeds.Where she studied economics and politics.She then went on to pursue a matser’s degree in economics from the university of cambridge.After graduating.Rachel worked as an economist for the bank of england and the british government.In 2010.She was elected as a member of parliament for leeds west.

Most Important Event

In 2019.Rachel was appointed as the shadow chancellor of the exchequer.Making her the first woman to hodl the position.She was praised for her wrok in the role and was seen as a strong advocate for the labour party.

Life Story

Rachel reeves has had a successful career in politics.She has been a strong advocate for the labour party and has been a vocal supporter of progressive policies.She has laso been a passionate campaigner for social justice and has been a vocal critic of the conservative government.Rachel is an inspiration to many and is seen as a role model for young women in politics.

'Labour won't turn on spending taps' says Starmer

'Labour won't turn on spending taps' says Starmer
Dec 3,2023 6:01 pm

... In June Rachel Reeves, the shadow chancellor, watered the pledge down...

Infected blood: Tory rebellion expected on payouts amendment

Infected blood: Tory rebellion expected on payouts amendment
Dec 3,2023 11:11 am

... In a letter sent to Chancellor Jeremy Hunt, shadow chancellor Rachel Reeves called the scandal " one of the most appalling tragedies in our country s recent history...

Bank branch closures hits Prime Minister Rishi Sunak's constituency

Bank branch closures hits Prime Minister Rishi Sunak's constituency
Dec 1,2023 6:41 am

... Shadow chancellor Rachel Reeves said: " Labour s plan will bring banking services back to communities who have seen them disappear over recent years, meaning more people across the country will be able to access the services they need closer to home...

Labour unlikely to meet its £28bn green pledge at all

Labour unlikely to meet its £28bn green pledge at all
Nov 25,2023 12:11 am

... But in June shadow chancellor Rachel Reeves watered the pledge down, saying the figure would not be reached until 2027...

Autumn Statement: Jeremy Hunt cuts National Insurance but tax burden still rises

Autumn Statement: Jeremy Hunt cuts National Insurance but tax burden still rises
Nov 22,2023 3:31 pm

... Labour s shadow chancellor Rachel Reeves said: " Today s 2p cut will not remotely compensate for the tax [increases] already put in place by this Conservative government...

NI and business tax cuts expected in Autumn Statement

NI and business tax cuts expected in Autumn Statement
Nov 21,2023 6:21 pm

... Labour s shadow chancellor Rachel Reeves said nothing Mr Hunt says could change the Conservative s " appalling record" on the economy...

'We've halved inflation' and other claims by the PM checked

'We've halved inflation' and other claims by the PM checked
Nov 20,2023 1:01 pm

... However, in June, Shadow Chancellor Rachel Reeves said...

Israel-Gaza: Protests against MPs cross a line, says Rachel Reeves

Israel-Gaza: Protests against MPs cross a line, says Rachel Reeves
Nov 19,2023 7:41 am

...By Sean SeddonBBC NewsSome of the protests targeting MPs over the Israel-Gaza war are " crossing the line" into intimidation, the shadow chancellor Rachel Reeves has said...

Bank of England steps in to calm markets

Nov 16,2023 12:11 pm

The Bank of England has said it will step in to calm markets after the government's tax-cutting plans sparked a Fall In the pound and caused borrowing costs to surge.

It warned that if the Market Volatility continued there would be a " material risk to UK financial stability".

The Bank will start buying government bonds at an " urgent pace" to help restore " orderly market conditions".

The pound tumbled to $1. 0586 after The News , down 1. 4% against the dollar.

It Comes after following the chancellor's mini-budget, which pledged $45bn worth of tax cuts, funded by borrowing, as part of a plan to boost Economic Growth .

Concerns over whether The Plan will work, means investors have been demanding much higher interest rates to lend to the government through Treasury bonds or " gilts". But The Bank now hopes to lower these prices by stepping in as a buyer.

Gilt yields Fell Back after The Bank 's intervention.

The Bank has already said it will " not hesitate" to hike interest rates to try and protect the pound and try and stem surging prices. Some economists have predicted The Bank of England will raise the interest rate from the current 2. 25% to 5. 8% by next spring.

The projection has led hundreds of mortgage products to be taken off The Market . There are also concerns The Market turmoil could hit pension funds which often invest in government bonds.

The Bank said its bond purchases would be " time limited" and carried out on " whatever scale is necessary" to ease investor concerns.

It will also postpone the planned start of a gilt sale programme that was only announced last week.

Paul Dales, chief UK economist at Capital Economics, said The Bank had been forced to step in to avoid the early stages of a financial crisis and warned fears over the economic outlook were growing.

" This shows that The Bank is going to do all it can to prevent a financial crisis and it is already working. While this is welcome, the fact that it needed to be done in the First Place shows that the UK markets are in a perilous position.

" It wouldn't be a huge surprise if another problem in the financial markets popped up before long. "

Despite The Bank 's action, the pound continued to fall with some analysts warning it could even reach parity with the dollar.

" What today shows us, is that The Market doesn't see this as a problem that just The Bank of England can clean up, " She Said . " This is just firefighting, " said Jane Foley, a currency strategist at Rabobank.

She Said pressure was growing on the government to make clear the financial cost of its tax cut and spending plans.

There has been widespread criticism of the government's plan, with International Monetary Fund warning on Tuesday that the measures are likely to fuel the cost-of-living crisis and increase inequality.

The government says it will not reverse its tax cuts, but has promised to release further plans to boost growth and reduce public debt on 23 November.

In a statement, the Treasury acknowledged global financial markets had seen " significant volatility" in recent days.

It said Chancellor Kwasi Kwarteng was " committed" to The Bank 's independence, adding: " The government will continue to work closely with The Bank in support of its financial stability and inflation objectives. "

But Labour called on the chancellor to urgently clarify how he planned to stabilise the economy.

Shadow chancellor Rachel Reeves said people would be " deeply worried" about the cost of their mortgage, about their pensions, and the cost of living.

" The Chancellor must make an urgent statement on how he is going to fix The Crisis that he has made. "

This is an immense show of force from The Bank of England trying to calm borrowing markets. It does raise some questions.

It underlines that this is a crisis, and The Bank has responded in emergency mode. The clear cause of this crisis was the chancellor's mini budget, leading to a loss of market confidence and spiralling borrowing rates on Government Debt , which it says could become a " material risk to financial stability".

So it will now, for a temporary period, buy up those loans in unlimited quantities. The effective interest rate being charged to the UK government in these markets was spiralling to 20 year highs. That has now fallen back.

But it was not a decision made by The Bank 's Monetary Policy Committee, who were informed of the decision after it was made by The Bank 's financial experts. It actually comes as as Committee had been set to enact the exact reverse Policy - selling government debts. The Process was due to start next week and has been delayed.

It is a massive intervention, but it could confuse markets about the clarity of Policy making and lines of accountability. Sterling has fallen sharply again, close to all time lows. This will not solve the government's problems. It might buy them some time.



Source of news: bbc.com

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