Iron Chancellor’ Rachel Reeves Hits Back at Critics and Embraces Thatcher Comparisons

The Chancellor, Rachel Reeves, has compared herself to Margaret Thatcher, distancing herself from Liz Truss despite recent financial challenges.

Rachel Reeves, responding to critics, said some people “don’t want to see her succeed” as borrowing costs rise and growth slows in the UK. She dismissed criticism over her recent trip to China, defending it as an effort to attract foreign investment, even as others argued she should focus on domestic issues.

Reeves has embraced comparisons to Thatcher, saying she’s “happy” to be called the “Iron Chancellor” due to her tough decisions, such as cutting winter fuel payments and raising National Insurance tax. She praised Thatcher for making bold choices and standing firm against critics, adding, “I’ll make the right decisions too, even if not everyone agrees with them.”

She also rejected rumors of being replaced in Keir Starmer’s cabinet, emphasizing her commitment to the role. “I’m here for the long haul,” she said, brushing off comparisons to Liz Truss’ short and turbulent time in office. Reeves explained that her tough economic measures, like tax hikes to address a £22 billion deficit, were necessary to avoid spiraling borrowing costs, which she likened to Truss’ disastrous 2022 budget.

While inflation recently dropped to 0.1%, signaling weak growth, the UK faces challenges like declining business confidence and a 1.9% fall in December supermarket food sales. Despite the hardships, Reeves vowed to keep pushing forward.

“Some people don’t want me or this government to succeed,” she said. “But I won’t let them stop me from growing the economy and improving life for working people.”