Ever since a functionary known as “Henry the Treasurer” oversaw the spending of William the Conqueror over 900 years ago, the nation’s finances have been controlled exclusively by men.
On July 5, Rachel Reeves walked into the UK Treasury as the first woman ever to take hold of the country’s purse strings. Officials crowded at windows on every floor of the hulking Edwardian building to take a look at the new chancellor. “It’s a massive moment,” says one Treasury official.
A sense of history hung over Reeves as she addressed staff on her first day in the job. “To every young woman and girl watching — let today show there should be no ceilings on your ambitions,” the new chancellor said. One female Treasury staffer says: “It was a really emotional moment. It felt more exciting than simply being a change of government.”