Shadow Chancellor Rachel Reeves will respond today to the upcoming Spring Statement from Chancellor of the Exchequer Rishi Sunak.
Sunak is facing huge pressure with today’s announcement, with inflation on goods soaring to 6.2% - the fastest rise in 30 years.
The cost of living crisis will be a major element of the statement, with hard-up Brits facing tough times amid fear inflation could spike into double figures.
Historically known as a ‘mini-Budget’, the Spring Statement will reflect whether Mr Sunak has grasped the full extent of the financial challenges facing so many British families, some of whom have pleaded with the Chancellor for help getting by.
Labour is expected to offer its thoughts on the statement and challenge the government in any areas it feels are misplaced.
This job will fall to Rachel Reeves, but who is she?
Who is Rachel Reeves?
Rachel Reeves, 43, assumed the position of Shadow Chancellor in 2021, taking over the role from Annelise Dodds who was axed from the role after just a year.
Rachel hails from Lewisham in south London, and was born to two teachers. As a child she attended state school where she became the UK’s under-14 chess champion and joined the Labour party aged 16.
She became a member of parliament for Leeds West in 2010 aged 31 and is now joined in the Commons by her sister, Ellie Reeves, and brother in law John Cryer - both Labour MPs.
With a degree from Oxford and an Economics Masters from LSE, she joined the Bank of England after turning down a job with Goldman Sachs.
She said: “I believed in public service, and I thought the Bank of England was the best training for an economist.”
After her 2010 switch to the Commons to make good on her dream of public service, Reeves got the deficit and debt mixed up in an embarrassing TV documentary clanger.
Supporting Ed Milliband did her well, however, as she moved up the party hierarchy quickly and was named Chief Secretary to the Treasury after just 18 months in office.
After three years she made it to Shadow Work and Pensions Secretary but angered the left of the party over people who claim benefits, saying: “We would be tougher… If they don't take it [the offer of a job] they will forfeit their benefit.”
She added at the time: "If you can work you should be working, and under our compulsory jobs guarantee if you refuse that job you forgo your benefits, and that is really important."
After the 2015 election, her stock plateaued and after maternity leave did not return to enjoy a role in Jeremy Corbyn ’s shadow cabinet.
During her time on the backbenches, she lead the Business, Energy and Industrial Strategy committee, where she boldly challenged the bosses of huge businesses like Wetherspoons’ boss Tim Martin and Sports Direct’s Mike Ashley.
She backed Owen Smith and Jess Phillips for leadership in 2016 and 2020, both outspoken critics of Corbyn.
She made an easy transition into Starmer’s shadow cabinet, where she has gone after Tory ‘sleaze’ and cronyism over Covid contracts.
Why isn’t Keir Starmer expected to respond to the Spring Statement?
While the Leader of the Opposition - currently Keir Starmer - usually responds to the annual Budget, it is more common for the Chancellor’s opposite number, the Shadow Chancellor, to respond to most announcements.
This means that the Leader of the Opposition's annual response to the Budget is the exception and not the rule when it comes to giving the shadow cabinet's views on the government policy.
