Rachel Reeves tells critics ‘I’m sick of people mansplaining how to be Chancellor’
Rachel Reeves is facing fresh pressure ahead of her Budget (Image: Getty)
Chancellor Rachel Reeves has hit back at her critics, saying: “I’m sick of people mansplaining how to be chancellor to me.”
The UK’s first female Chancellor said in a new interview: “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 by undermining my character or my confidence. I’ve seen off a lot of those boys before and I’ll continue to do so.”
Speaking to journalist and former Labour adviser Tom Baldwin for The Times Magazine, she said: “I’m not a public personality. I’m not in showbusiness. I’m the chancellor. If you want people to enter politics, you have to remember they’re human beings. I’m a mum with two kids. I’m a wife and a daughter. I wasn’t born into this and I’m just trying to do my best.”
But she admitted that she wished she had not gone into the House of Commons Chamber when she was feeling emotional earlier this year and was caught on camera crying. Ms Reeves was dealt a fresh economic blow this morning as Government borrowing surged again.
The Office for National Statistics (ONS) said public sector borrowing stood at £17.4 billion last month, £1.8 billion lower than a year ago but the third highest level for October since records began. The figure was more than the £15 billion expected by most economists and higher than the £14.4 billion forecast in March by the UK’s independent fiscal watchdog, the Office for Budget Responsibility (OBR).
Borrowing for the seven months of the financial year to date was £116.8 billion – £9 billion higher than the same period a year ago and £9.9 billion above the OBR’s forecasts in March. The figures come less than a week before the November 26 Budget, when Ms Reeves is expected to reveal a raft of measures to help plug a black hole in the UK public finances, estimated at up to £50 billion by some economists.
Reeves ‘not even sure’ what the ‘popular path’ is
Britain cannot continue to “muddle through” and must take “a different path” on the economy, the Chancellor has said.
Ahead of her second Budget on November 26, Rachel Reeves told The Times Magazine that the country could not continue on its current trajectory.
But she admitted she was “not even sure any more what the popular path is” amid calls for a wealth tax from some politicians and heavy tax and spending cuts from others.
She said: “There are lots of people who say cut taxes and the economy will grow, but what spending would they cut?”
Ed Miliband ‘breaking promise to cut energy bills’
Energy Secretary Ed Miliband stands accused of breaking his promise to cut energy bills as it was announced today that they will rise again.
Regulator Ofgem has increased the energy price cap by 0.2% for the period covering January to March 2026.
It means for an average household paying by Direct Debit for gas and electricity, the overall bill will be £1,758 per year. This is up from £1,690 in June 2024, when Labour gained power.
But Mr Miliband has vowed to to cut energy bills by £300 by 2030 – and today’s announcement shows prices are going in the wrong direction.
Claire Coutinho, Shadow Energy Secretary, said: “Ed Miliband promised to cut everyone’s energy bills by £300 but more and more experts are sounding the alarm that his plans will lock us into paying higher bills for decades.
Despite gas prices falling, independent experts, energy suppliers, and academics say it’s the extra costs of Ed’s Net Zero targets that are putting upward pressure on bills.”at all costs.”
Borrowing figures laid bare
UK Government borrowing stood at a higher-than-expected £17.4 billion last month, marking the third highest level for October since records began, according to official figures.
The Office for National Statistics (ONS) said borrowing was £1.8 billion less than in October last year.
The figure was more than the £15 billion expected by most economists and higher than the £14.4 billion forecast by the UK’s independent fiscal watchdog, the Office for Budget Responsibility (OBR).
Borrowing for the financial year to date was £116.8 billion, which was £9 billion higher than the same period a year ago.
Borrowing is spiralling out of control
Shadow chancellor Sir Mel Stride said: “Borrowing so far this year has been the highest on record outside the pandemic.
“If Labour had any backbone, they would control spending to avoid tax rises next week.”
He said the Tories had a “clear plan to control spending, live within our means, and reduce taxes”.
Reeves: People are frustrated over speed of change
Chancellor Rachel Reeves admitted Labour could be booted out of office if peoples’ lives don’t start improving.
She said: “There’s a lot of cynicism.
“But the vast majority in this country are reasonable. They want to see change and are frustrated it isn’t coming as quickly as they hoped.”
She says Labour must deliver improvements.
“If we can’t, then voters will give someone else that opportunity”, Ms Reeves added.
Reeves: ‘It’s not enough’
Rachel Reeves insists she’s “really proud of what we’ve done” during Labour’s first year and a half in office.
The Chancellor cites extra money for primary school breakfast clubs, free school meals for more children, the introduction of family hub nurseries.
But she admitted “it’s not enough”.
“On the estates in my constituency.
“People are still having a really tough time. I don’t expect them to come out and clap me when I walk past… The trouble is, we started from such a low base.
“When you’ve still got seven million people on NHS waiting lists, there’s a lot more to do before people see it in their everyday lives.”
More from Rachel Reeves’ interview
The Chancellor says she just wants “to do my job and do it well” amid huge interest in her life and personality.
She told The Times Magazine: “I just want to do my job and do it well. I do recognise that in public life, they also want to see a bit of you. But there’s only so much I can do.”
Discussing the famous moment she broke down in the House of Commons, Ms Reeves hints it was a mixture of personal and professional pressures.
She said: “If you weren’t recording this, I’d tell you about what was going on, but I’m not saying that to the world.
“Most people have had a day at work when they go into the toilets and have a cry, or say to their boss, ‘I’m just going home early.’ Unfortunately, my difficult moment was on live television.
“I always go to prime minister’s questions — I thought it was my duty to be there — but if I had that day again, I wouldn’t have gone into the chamber.”
