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Chancellor Reeves Plans Exit in Two Years Amid Mixed Economy

7/11/2026

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Summary

Story summary

Chancellor Rachel Reeves said she and her team will likely leave No 11 Downing Street within two years.
She noted lower borrowing costs, inflation easing from its peak, and increased road and railway spending.
She warned that inflation stays above target, growth is slow, debt will rise by parliament’s end, and disposable income has fallen, prompting possible further rate hikes.

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Story summary

Chancellor Rachel Reeves said she and her team will likely leave No 11 Downing Street within two years.
She noted lower borrowing costs, inflation easing from its peak, and increased road and railway spending.
She warned that inflation stays above target, growth is slow, debt will rise by parliament’s end, and disposable income has fallen, prompting possible further rate hikes.