The Rt Hon Rachel Reeves MP
Rachel Reeves was appointed Chancellor of the Exchequer on 5 July 2024. They were elected as the MP for Leeds West and Pudsey in July 2024.
HM Treasury
HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.
Responsibilities
The Chancellor of the Exchequer is the government’s chief financial minister and as such is responsible for raising revenue through taxation or borrowing and for controlling public spending. He has overall responsibility for the work of the Treasury.
The Chancellor’s responsibilities cover:
- fiscal policy (including the presenting of the annual Budget)
- monetary policy, setting inflation targets
- ministerial arrangements (in his role as Second Lord of the Treasury)
- overall responsibility for the Treasury’s response to COVID-19
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