YouSaid · the spoken record

Rachel Reeves

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2024-05-26
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2024-05-26
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  1. “No, I'm not complacent at all. Morgan McSweeney, you know him, our campaign director in the Labour Party, did a presentation on the local election results and the penultimate slide after sort of talking through the successes we'd had in the local elections, the penultimate slide says, what does this mean for the general election? And the slide was blank. Absolutely nothing because not a single vote has been cast yet. So, yeah, we have to win back the trust of an awful lot of people, some of whom have never voted Labour and an awful lot of people who turned against Labour understandably so I totally get it at the last couple of elections and we need to win back their support.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Keep things going, and she doesn't know how people would cope today with the energy prices and the mortgages doing what they did today. And that was really, it was an important moment for me when I was little and seeing my mum doing that, something in me was sort of touched by what my mum said because you realise I see it in my constituency, even people who should be doing okay really struggle when things go wrong in the economy and I want people to be able to put their trust in me and know that I would always be looking out for their interests. And I don't want to sound like a cliche, but that's where that motivation comes from from me, seeing my mum making sure that the money always added up and knowing for a lot of people that is really, really hard today.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “To win the election, I need people to be able to trust me. And that's what I hope when people see me, when they hear me. And I guess, you know, I talk about my experience at the Bank of England and all the rest of it, but I remember when I was little. And my mum and dad weren't poor. They were primary school teachers, as I've already discussed. But they split up when I was at primary school. And so we didn't have a huge amount of money. We certainly weren't poor, but we didn't have money to spare. My mum would keep all of her receipts. And every month when she got her bank statement, she'd go through the receipts and tick off everything on the bank statement. And that taught me, I guess, the importance of being able to explain where the money comes from because she had to do that. My mum had to do that when we were growing up. And I remember as well when the energy prices went through the roof. And then also then when mortgage rates spiraled. And my mum said, she just about managed.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “And I felt really excited and motivated by that, a bit like Natalie in year 13 from my school who was applying to Oxford for the first time I could see women role models doing something that maybe I could do in the future. And I hope that if I have the opportunity to be the first female Chancellor of the Exchequer, there will be young girls and women who think, you know what, maybe I could do that one day because no one ever before like me has done that job and now there's a woman there doing just that. And so I hope I play just a small part in encouraging more women and girls to go into politics and in banking and finance and business too.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Environments, but in politics, we claim to represent the country that we're serving. And I think it's really hard to make that claim when the institution looks so different from the country that we're supposed to serve. And so I passionately believe that we need to have people from a wider diversity of backgrounds in politics, including more women in politics. And that would make it a better institution and it would serve better our country. And so something I've always tried to champion is women in politics. I also recognize this point because I'm sort of standing on the shoulders of the women that have gone before me and encouraged me at women like Harriet Harmon and Tessa Jowl, who really encouraged me when I first got elected to Parliament. And actually, I remember in 1997, obviously it was brilliant to have the Labour landslide, but all those women. And for the first time in politics, there were women that, you know, looked a little bit like me, sounded a bit like me from similar experiences and backgrounds.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “In politics, but I've also always wanted to have more women in politics. And when I was born 45 years ago, there were only 19 women in parliament. And today there are more than 220 women in Parliament. That is a huge change in my lifetime. And that's really exciting. And that didn't come about by chance. That came about because both parties made a conscious effort to change how they do things. Labour in 1997 ushered in the 101 Labour women MPs. And then because of the way actually Theresa May set up women's winning the Conservative Party in 2010, there was a big increase in female representation on the Conservative benches. And I think that's a really positive thing because I worked in banking and finance before I became an MP. I was, as you said at the beginning, a junior chess player. I've always operated in very male-dominated”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “So Joe loved her job. I remember her mum saying to me after she was murdered, Joe loved doing the job that she loved in the place that she loved. And it was a terrible way to die and it was a life taken much too soon and she had so much potential and so much to give. But her mum said she wouldn't have ever done anything else. And she paid the ultimate price for doing what she loved and trying to make a difference. And I do believe, despite all of the scandals and everything that we hear in politics, that it is a noble thing to do, to want to represent your community and to want to change. And, you know, I'll disagree with Rory on lots of things, but I know that Rory like me came into politics to try and make things a bit better than what we started with. And, you know, I've got friends in all political parties trying to do those things in terms of sort of women in politics. I've always wanted to have more labour MPs.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “I haven't been in opposition for 14 years to get into government for a short period of time and not be able to affect the change I want to do. So I plan to make commitments that I can keep.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “We want to win a second turn. And so that means you have to fulfill the commitments you've made to people in an election. And we've set out the first steps that a Labour government would take. And we've explained where the money is going to come from. So this is not”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Well, some of those are annual revenues, of course. So they're not just one offs. So £1.4 billion a year by the tax changes on private schools, for example. So you're not really comparing apples with apples there. But I recognize that these are limited changes and they're an upfront investment into public services and then the plan to grow the economy and the plan to grow the economy is what is going to deliver the money to sustainably invest in public services.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Yeah, in addition, we've got the energy profits levy that we would extend, which would endow the National Wealth Fund, so around £7 billion you can get through extending that £5 billion on tax avoidance, additional money from London's, £1.4 billion from private schools and about half a billion from private equity.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Well, first of all, borrowing didn't really go up significantly until the financial crisis. So it wasn't borrowing to fund investment under the last Labour government. It was through a strong economy that was growing. And then you could invest those proceeds of growth in better public services. That's my reading of what Tony Blair and Gordon Brown did during that last period of government. And I'm not going to start spending money before it comes in. I'm just not going to do that. And so, you know, we said there will be an immediate injection of cash into public services by the limited and targeted tax changes around non-DOMs private equity and private schools.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “The most important thing is that people will respect me and that they'll trust me. And if I said yes to everything, I wouldn't be doing my job. I'd be doing my job incredibly badly. And so I won't make any commitments without being really clear that I know where the money's going to come from. But if I didn't do that, it would be the road to ruin because you'd end up having to borrow more or find taxes that are going to make it harder to grow the economy. And I think the most important thing is that people can trust me and that my colleagues respect me. And I think they do respect me. They understand where I'm coming from. They're bought into this, but both politically and economically, it is the right thing to do.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “I would love to be able to commit to do more, but that is funded and costed through having VAT on private schools and business rates on private schools, and the money will be used for the additional teachers in our state schools. That is a choice, a different choice. An incoming Labor government would make compared to the choices that the Conservatives have made.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “That's why Kia talks about a 10 year program. You know, you can say, oh, you know, you haven't even won election yet, but it is going to take time to turn these things around. And I think it is important to be honest about that. You know, you could say it's about setting expectations low. I think it's just about being honest. And I think that people respond to that, you know, that things are going to be tough and we're not going to be able to do everything we might want to do straight away. And I know, you know, one of the things I have to say regularly to colleagues and different campaign groups is, no, I'm afraid we're not going to be able to have the money to do that. Certainly not straight away. And that's not something as, you know, a good labour person I might like to say, but it is the reality of the inheritance we're going to have. And it's why when we set out the first steps last week, it was all fully funded, fully costed policies, like the six and a half thousand additional teachers in our schools.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Well, obviously, we're going to inherit a world that looks very, very different to what you experienced when you came into government.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “It's ambitious. It's absolutely ambitious. Why should anyone believe? We're not going to apologize for that. When Labour was lasting government, we increased productivity and GDP growth. We were competitive in the global economy. So things are different.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “Why not? I think we've got huge potential. I'm not saying a bigger economy, but growth rates. And we've been so behind there's an awful lot of catching up to do here in Britain. I believe if we reform our planning system, reform our pensions, our skills system, we bring back the stability to the economy that we desperately need, that we can attract investment here, which is what we need to grow the economy.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “Well, I just disagree with you on that. If we grew the economy at just the average rate of similar economies, we'd have 50 billion pounds more today. So that is where the money is going to come from. But we also need to run our public services better”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “You'd have about 40, 50 billion pounds more for public services every single year. But it's why it's right to focus on growth so much because unless we grow the economy, you're not going to have the money for public services. And I'm not going to make a load of funding commitments from imaginary money. What I am going to do is put in place the things that are needed to grow our economy so we do have the money again for public services. Well, that is, in the end, the only way that you can both improve living standards and having money for public services is through growing the economy. And that's why so much my emphasis is on that.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “But it wasn't actually funded by borrowing, it was funded by growing the economy. And that is the difference between the labor years when the economy was growing and the difference these last 14 years. Well, no, let me just give you this statistic. If the economy had grown at the average OECD rate, it would now be 30%.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “We're committed to have 40,000 additional appointments every single week in the NHS as a backlog, as you know, under the Conservatives of almost 8 million today. You know, it's not going to sort out everything overnight. If I promise to do that, I think people would rightly say that's not possible. But we're setting out the steps we're going to take to get the NHS for the future again. And we'll start with those additional...”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “She would have borrowed a lot of money and things are an absolute mess. It's about how you run things. And that's why Wes talks about, you've asked a question. So it's also about how you run things. And that's why Wes has spoken about reform of public services rather than just money. But it's also why we've set out how we will tax the non-DOMs properly, which your party's had 14 years to do and never.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Yeah. Wait a second. What was borrowing? Just remind me what government debt was when Labour lost office in 2010, Rory. What was it as a percentage of GDP?”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “A successful economy that is firing on all cylinders, that is attracting jobs and investment. And that has changed because we haven't been doing that these last few years. People have felt they've had to move from the town that they live in to access jobs elsewhere, predominantly in London and the southeast. So I want people, wherever they live, to be able to get a job that pays a wage that they can support. It is generally what is going to make the biggest difference to people's everyday lives. And I am quite a practically minded person. And I think about what would have benefited me when I was little and what would benefit young people growing up today and what would benefit my constituents in Leeds West. It is those things, good jobs, paying decent wages in the places that they live.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “Someone, our economy to be growing and creating good jobs right across Britain. So, not just a few industries in a small part of the country, but that people feeling better off and having better jobs that pay decent wages that they can afford to live on in all parts of the country. That is what I want to achieve if I'm Chancellor of the Exchequer.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “Look, we have got things that we, where we want to improve the relationship. We want to make it easier to trade, but we are not going to revisit and relitigate those arguments of the referendum. We're just not going to do that.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “If we did a veterinary agreement, actually, I think it would deal with a lot of these issues because a lot of the issues are around food and farming sectors. So we do recognize that those things are big challenges, but our answer to it is to get a bespoke veterinary agreement rather than just a blanket, go back into these institutions.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “I literally have just said something that you would want to fix, and we want a reset of that relationship because, look, I think the most important trading relationship Britain has is with our European neighbours and partners, and it's too difficult to trade today.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “I also feel that if you went into an election, say, I've got a really good idea, let's have another referendum. I'm not saying that, though. I'm not saying that.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “Because people voted against free movement. I mean, I represent, you represented a Lee voting constituency, did you? Sure. Yeah. I represented still represent a leave voting constituency. And the number one issue for why people voted leave was free movement.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “We're not going to bring back free movement, and I think just a blanket exemption for everyone under the age of 30. I don't think that'd be politically acceptable.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Gigantic elephant. I don't deny that it has had a big impact on our economy, but what I would argue is you have to accept things as they are rather than as you would want them to be. And if we could go back in time and fight that referendum again, you know, I'm sure we would have all campaigned even harder to win the argument, but we didn't win that argument and we now face this inheritance. I want to build a close relationship. We've committed to trying to secure a veterinary agreement to improve those flows of goods at the border. We also want to do more to support the services sector with a mutual recognition of professional qualifications, touring rights for artists. So there are areas where we've already committed to having a closer trading relationship, but those red lines that you articulated will be in our manifesto.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “I think if you could go back in time, then I would have voted the same way again. I would have voted to remain. But it's eight years ago now. And I do think we have to accept the world as it is rather than the world as we might want it to be.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “What the customs union is about. Well, no, because you're not in the single market, so you don't have that free movement, so it's the single market that would mean that you wouldn't have any checks at things coming in and out rather than the customs union, I think. But we want to build closer trading relationships. We know that the deal that Boris Johnson secured is not the best it could be. We want to make it better, but we don't want, and actually, I don't think businesses by and large hugely appreciate a reopening of this debate.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “First of all, that is not a simple thing, Rory. It just isn't. First of all, I'm not sure. It's not like our economy was doing really, really well before we left the EU. It's not like everything turned at that moment in 2016. There are deeper structural problems that we need to overcome. Oh, I don't sound like exactly.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “So we want a closer relationship with our neighbours and trading partners. We want a reset of that relationship so that we can trade more freely. You know, you look at what's happening at the moment with these import checks that have just come in, adding huge costs, especially to smaller businesses. And there are many small businesses. I mean, I'm not telling you anything you don't know, but they've just given up exporting or given up importing. And that's causing huge damage. You know, exports and imports to Europe have both fallen. So we want to rebuild stronger trading relationships, but we don't want to relive those battles of eight years ago now.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “I just really want to be Chancellor of the Exchequer. That is what I've always wanted to do, and I think I'll be really good at it.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “Yeah. So I know that everyone always wants to make comparisons between today's leader and chancellor or shadow chancellor in my case and ones in the past. But no, we are going to have to be our own people. It is 27 years now since Labour won in 1997 and 14 years since Cameron and Osborne won in 2010. And so we will do things our own way. But I would come back to that point earlier. The job that I want to do, the job I've always wanted to do is Chancellor of the Exchequer. And so I think some of those tensions that perhaps have existed in the past, I just don't think they'll apply in the same way.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “I don't agree with you because look at what happened when the pandemic came along. The costs went through the roof because we were over-reliant on too few number of suppliers. Look what happened when Russia invaded Ukraine and what happened to energy prices. We made a mistake of getting rid of our gas storage facility in the UK and we hadn't built up our homegrown renewables enough and so we were overly exposed to those global fluctuations in oil and gas prices. So, you know, there's a short-term, long-term trade-off here. Maybe it is cheaper today, but actually you're building up huge costs for the future if you don't diversify. And I think would be very, very naive if we thought we could just rely on China for things that are essentials in our everyday lives.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  41. “I think it's diversifying rather than decoupling. So, for example, PPE, we were so reliant on China. No one's saying we shouldn't buy PPE from China, but we shouldn't have the only source of PPE from a country that doesn't share our value. So it's not about decoupling, but it is about diversifying our supply chain so we're not overly reliant on one country, which is going back to the energy thing, it is why it is so important because it is an essential, a basic essential that we all need, but we have become over-reliant on Russia and other dictators around the world for that basic.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  42. “I agree that that is a dilemma. What we can't have, though, is that China having a monopoly on industries, especially crucial, critical industries, because then we become over-reliant on one country. And in this case, a country that frankly doesn't share our values. So I think when it comes to China, there are areas where we can compete. There's areas where we can collaborate. But there are areas as well where we need to challenge. And to be fair, the conservatives, blatedly, but in the end did stop Huawei from building our digital infrastructure. The nuclear power station in Hinkley is funded with Chinese money, but the next one won't be because we cannot be overexposed to China. So, you know, I don't mind buying cars from China, but we have got to make sure we are building up our own industry here. And we must also ensure that we're not having things that are massively subsidized by the Chinese state undercutting British manufacturers.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  43. “We're not importing our turbines ready from China. Some of it's from other European countries, some of it's from other parts of Asia, but some of it's from other European countries who have gone further and fast enough in building those industries. So I don't want to just host this infrastructure in the UK. I do want to build more of it here as well. But that is an example that things went pretty right that we got the industry here and there are good jobs in that sector, but the next generation is going to be floating offshore wind, which is a new technology. And we've got lots going for ourselves. I think sometimes we talk ourselves down. You know, you say, oh, it's all going to be done in China. We really benefit from the shallow seas around the UK and from our industrial heritage, for example, in North Sea oil and gas, which means there's lots of good reasons to think that we can lead, host, manufacture stuff here in the UK and play our role in the sort of decarbonisation of the economy.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  44. “So let me give you an example of something that has worked rather than something that perhaps hasn't. So under the last Labour government, towards the end, we introduced contracts for difference for offshore wind. We now, I think, produce more offshore wind than any country in Europe. And that's because we created a market for something. It wasn't a direct subsidy to build those wind farms, but it was a guarantee of a sort of backstop price that we would pay. And we created a market and the investment flowed in. And we are reaping the benefits of that today. What we didn't do alongside that, though, was to set up an industrial strategy to ensure that we were building the turbines in this country, patenting the technology.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  45. “So getting in private investment is going to be crucial. And also things that are practical like reforming the planning system so we can actually start building stuff in Britain again, including some of the green industry, whether that is offshore wind or carbon capture or green hydrogen.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  46. “So there's a global race on for some of these jobs and industries of the future. You've mentioned a couple of them technology and AI, some of the green industries, I think life sciences is another example. And I want Britain to be in that race. I want us to be attracting jobs and investment here. We're not the US though. We're not a reserve currency. We do not have the deep pockets that they have. So I think we've got to be much more strategic in what we do and what we invest in. And frankly, it can't all be about money because if it's all about money, we're not going to be able to compete. But there are things that we can do and that we've set out. So our green prosperity plan includes a national wealth fund and we've got a task force at the moment being led by Mark Carney, a former governor at the Bank of England, looking at how we can structure that task force to leverage in as much private sector investment because it can't all be public money because frankly it's the point that Alistair made, the inheritance is pretty grim, you know, debt to GDP almost 100%.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  47. “There's massive challenges. I don't underestimate them. I definitely don't. But I do think I can do this job. It's the job I've always wanted to do in politics. You know, as you've already described, I studied economics. I've worked as an economist at the Bank of England. I've worked in the private sector and financial services. It's a job if I would let myself dream that I would always want to do. Some people want to be Prime Minister. That's never been my dream. My dream has always been to be Chancellor of the Exchequer story at university. I don't know if you'll like this. At university, my friends for one of my birthdays bought me a picture of Gordon Brown to put up in my room because I knew how much I loved the treasury. That is always”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  48. “Obviously, you want to communicate a core message, which is that you can trust me with the public finances when Kira appointed me to this job. He said by the next election, people have got to be able to trust you with their money and they've got to be able to imagine me as Prime Minister. And I remember that every day, that the most important thing that I can do between now and whenever the election comes is convince people that they can trust me with their money, because it is their money, taxpayers' money, that I will be responsible for when they pay their taxes to make sure that you get value for money for the public services. So, of course, communicating that core message, especially after the damage that has been done to Labour's reputation on the economy these last few years with a lot of unfunded commitments at the last election. I do know every day that I'm only doing my job if I'm building trust in myself and in Labour Party around management of the public finances.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  49. “and drive through reforms without building a consensus for them and without explaining where the money is going to come from. And I will never play fast and loose with a public finances in the way that the Conservatives have, because when you do, you put ordinary family finances in peril and we're still living with the consequences of that.”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source

  50. “So, the area where, and I set this out in my Mays lecture a couple of months ago that I gave in the City of London, and I set out in that how the Treasury needs to be more focused on growth than it has been in recent years. Under the last Labour government, there was a unit in the Treasury called the Enterprise and Growth Unit. That has been really marginalised in the last few years, where the focus has been more on, I think a lot of it is gimmicks, like these fiscal, preparing for fiscal events, another set of announcements, rather than actual delivery, getting the growth back in the economy like we need it. So there are things in the institution of the Treasury that I would like to change, but I do think that making sure that the sum is always add up is crucially important. And the Conservatives, I'm afraid, tested to destruction the idea that you can manipulate markets and try and”

    2024-05-26 · The Rest Is Politics: Leading · 76. Rachel Reeves: Britain’s next Chancellor? · IDENTIFIED FROM THE TRANSCRIPT · source