Rachel Reeves ridiculed over boast she can 'balance the books'

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The Shadow Chancellor has been mocked for claiming she can manage the nation’s finances having once had her credit card suspended over eye-watering debts.

By Max Parry, News Reporter

21:19, Sun, Mar 3, 2024 | UPDATED: 21:59, Sun, Mar 3, 2024

Rachel Reeves have been criticised for claiming she was taught to ‘balance the books’ as a child (Image: Getty)

Rachel Reeves has been ridiculed for claiming she had been taught to “balance the books at the kitchen table” as critics pointed out she once had her parliamentary credit card suspended after running up over £4,000 in debt.

In an interview with the Telegraph, the Shadow Chancellor reflected on her upbringing and the life lessons she learned as a child from her mother.

The Lewisham-born MP told the publication: “We weren’t poor but we didn’t have money to spare and she wanted to make sure that everything added up.

“I remember sitting there at the kitchen table and saying, ‘What are you doing?’ and her explaining to me. I’ve always felt that it’s really important to look after your own money.”

Rachel Reeves was Shadow Work and Pensions Secretary in 2015 when her official card was suspended (Image: Getty)

The comments have been picked up by keen observers who note that the former Bank of England economist was one of 19 MPs to have her official credit card suspended after racking up four-figure debts.

MPs are issued credit cards by the Independent Parliamentary Standards Authority (IPSA) to cover expenses for things like travel and accommodation. They then have to demonstrate that the spending was warranted or they incur debts.

When Ms Reeves was Shadow Secretary of State for Work and Pensions, she had her official card suspended for incurring debts of £4,033.63. She had cleared her debts at the time of the 2015 report.

The report was highlighted by Aaron Bastani – chief at left-wing media outlet Novara – when he took to X to mock the 45-year-old’s claims she can be trusted to balance the nation’s books.

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Sharing side-by-side screenshots of Ms Reeves’ Telegraph interview and the report outlining her credit card suspension, Mr Bastani wrote: “The jokes write themselves.”

Ms Reeves suffered similar mockery earlier this year after claiming she struggled to get by on her £86,000-a-year salary.

The MP for Leeds West told GB News she “winces” when she looks at her bank statement at the end of each month and finds “the money coming in is increasingly short of the money going out”. She earns £86,000 before tax and her husband, senior civil servant Nick Joicey, was earning between £170,000 and £174,999 in 2022.

A Tory source criticised the would-be Chancellor of the Exchequer amid the latest backlash, telling Express.co.uk: “If the shadow chancellor can’t manage her own finances, how on earth does she expect the public to trust her with the economy?”

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