UK’S REEVES DEFENDS RECORD AND CREDIBILITY – Reeves says government must sustain ‘hard-won credibility’ 

Britain’s Chancellor of the Exchequer  Rachel Reeves who risks being replaced next week once Andy Burnham becomes prime minister — stressed the need for stability in the public finances and defended her past decisions in a major speech on Tuesday.

Reeves said Britain’s economy was strong because of choices ​she had made since the Labour Party came to power under Keir Starmer two years ago, adding that there ​had been progress in delivering on promises of change.

“Hard-won credibility must be sustained and the ⁠foundations maintained if this work of radical change is to continue,” Reeves said in her annual Mansion House speech to ​the finance industry, which focused heavily on what she saw as her achievements in office.

Burnham is expected to be formally announced ​as Labour leader on Friday and will be officially named as prime minister on July 20.

The former Greater Manchester mayor has set out ambitions to spur “good growth in every postcode” — a goal for which Reeves said she had already laid the foundations — accelerate the decentralising of power ​away from London and increase the stock of social housing.