Rachel Reeves has said she is tired of people “mansplaining” how to be chancellor to her, as she prepares to deliver her budget next week. In an interview with the Times, the UK’s first female chancellor spoke of the pressure of her role and the constant political attacks she faces.
Reeves said it motivated her “a bit” to prove her decisions right to those “boys who now write newspaper columns” or refer to her as “Rachel from accounts”. She added: “I recognise that I’ve got a target on me. You can see that in the media; they’re going for me all the time. It’s exhausting. But I’m not going to let them bring me down.”
The chancellor was tight-lipped on the budget, which is expected to raise at least £20bn in taxes through measures including lower income tax thresholds, a levy on gambling, higher taxes on high-value properties, and changes to pensions relief. She emphasised the importance of taking people along from the start and repeatedly explaining policy decisions.
Reeves’s budget is critical for the government’s fortunes, with Downing Street arguing that the changes will deliver growth, improve living standards, and properly fund public services. However, polling shows the government and its leadership are unpopular, and Reeves has already dropped plans for a headline rise in income tax.
In the interview, Reeves said: “I’m not even sure any more what the popular path is. There are lots of people who say cut taxes and the economy will grow, but what spending would they cut? Borrowing is too high, but you can’t cut it overnight. We have to make some decisions to get on a different path.”
Alongside tax rises, the budget is expected to include action on the cost of living. Reeves announced on Friday an extension of the freeze on NHS prescription charges for another year, keeping the cost at £9.90. She said: “No one should put their health at risk because they can’t afford their medication.”
