Chancellor Rachel Reeves has declared she is tired of people "mansplaining" how to do her job as she faces intense pressure preparing for her pivotal budget announcement next week.
In a candid interview, the UK's first female chancellor opened up about the constant political attacks and the unique challenges of her role, vowing not to let critics undermine her confidence.
Facing the Pressure and Political Attacks
Reeves revealed that the relentless media focus on her is "exhausting," but stated it motivates her to prove her detractors wrong. She specifically referenced "boys who now write newspaper columns" and those who dismissively refer to her as "Rachel from accounts."
"I recognise that I’ve got a target on me," Reeves told the Times. "You can see that in the media; they’re going for me all the time. But I’m not going to let them bring me down by undermining my character or my confidence. I’ve seen off a lot of those boys before and I’ll continue to do so."
Her frustration was further highlighted by a report in the Financial Times, which detailed an incident where she told a business leader, "Talk to me with respect – I’m the chancellor of the exchequer," after a robust challenge over North Sea drilling tax.
What to Expect from the Budget
While remaining tight-lipped on specific details, Reeves's budget is expected to be a defining moment for the government. It is anticipated to raise at least £20bn in taxes through a series of measures.
These are likely to include:
- Lower income tax thresholds
- A new levy on gambling
- Increased tax on higher-value properties
- Changes to pensions tax relief
Alongside these revenue-raising steps, the budget will also contain action on the cost of living, with help for energy bills anticipated. As a first step, the chancellor has already confirmed an extension of the freeze on NHS prescription charges, keeping the cost at £9.90 for another year.
Reeves emphasised the difficult choices ahead, stating, "I’m not even sure any more what the popular path is." She pointed to the trilemma of high borrowing, under-pressure public services, and limited funds, concluding, "We can’t just carry on like this and muddle through."
A Critical Moment for the Government
Downing Street is positioning this budget as the foundation for future economic growth, arguing that the changes will "deliver the growth that means living standards can improve and we can properly fund public services."
However, the government faces an uphill battle with unpopular polling figures. Reeves has already been forced to abandon a plan to use a headline rise in income tax to plug a fiscal hole.
Reflecting on her first year, the chancellor noted a key lesson: "You have to take people with you from the start and keep explaining over and over again what you’re doing." With her budget set to outline a new path for the nation's finances, all eyes will be on Rachel Reeves as she steps up to deliver one of the most significant statements of this political era.
