Rachel Reeves Steps Down as UK Chancellor of the Exchequer

11:19 AM EDT, 07/20/2026 (MT Newswires) -- UK Chancellor Rachel Reeves is stepping down from her post as new Prime Minister Andy Burnham takes office on Monday. "It has been the privilege of my life to serve as the Chancellor of the Exchequer," Reeves said in a social media post on X, while expressing full support for Burnham's new cabinet.