The new British Prime Minister, Keir Starmer, revealed the appointment of Rachel Reeves as the first ever Chancellor of the Exchequer in the United Kingdom, after she held the same position in the shadow cabinet before the elections.
Reeves made history when she became the first woman to hold the position of Chancellor of the Exchequer in Britain, bringing with her a great promise for change in economic and financial policy-making at the highest levels.
The position of Chancellor of the Exchequer has been around for 800 years and, before Reeves, has always been held by a man.
Reeves said, according to a report published by The Conversation website, that she believes that the opportunity comes with a great responsibility, “and this includes proving to other women that there should be no limits to their ambitions,” as she put it.
She also said it was her duty to drive progress for women, closing the gender pay gap, which currently stands at 14.3 percent, and wanting to make flexible working the norm.
Reeves also added that her biggest commitment is to “restore stability to the economy,” and she promised to adhere to fiscal rules that ensure debt is reduced.
At the same time, it will face internal party pressure to spend heavily, according to Bloomberg.
On the other hand, Bloomberg reported that Angela Rayner has been appointed Deputy Prime Minister of the United Kingdom, and also Minister of Housing, which indicates the importance that the party attaches to the housing issue.
The new British Prime Minister, Keir Starmer, who does not have much charisma, promises to transform the country, as he did at the Labor Party level after succeeding Jeremy Corbyn in 2020, by focusing on the economy and combating anti-Semitism.
He confirms that he wants to stimulate growth, correct the situation of public utilities, enhance workers’ rights, reduce immigration, and bring the United Kingdom closer to the European Union without going back on Brexit.
British King Charles III officially appointed Labor Party leader Keir Starmer as Prime Minister, on Friday, during a meeting at Buckingham Palace, after the crushing defeat of the Conservatives who had controlled the formation of the government for 14 years.
At a time when the names of the members of the new British government are being announced, the pound sterling is on track to record the longest series of gains in 4 years, as the pound rose by 0.30 percent to $1.27.
The FTSE 250 index also rose by 0.70 percent, to the level of 20,754.80 points.
The FTSE 250 is a stock market index that measures the true strength of the UK economy.
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