It’s unlikely Rachel Reeves is going anywhere

Rachel Reeves, who is now fighting for her political life, was instrumental in helping Labour secure a landslide majority at the general election.

If you don’t believe that then you have probably forgotten that her predecessor as shadow chancellor was Anneliese Dodds. All the while that the wild-haired former university lecturer Dodds was in charge of Labour’s economic policy the party lagged well behind on perceived competence on this vital issue.

But when the sleek, suited and booted Reeves took over that all changed. City and business sentiment gravitated towards Starmer’s party and the Tories were unable to terrify the electorate any longer about the prospect of Labour being in charge of the money.

Six months on from the election, all that has changed. Reeves is now known disparagingly as ‘Rachel from Accounts’ after her CV was discovered to have suffered a similar degree of inflation as afflicted the Argentinian economy in 2023.