Key facts
- Reeves said her national insurance increase broke a cycle of low wages and low investment, strengthening the economy.
- The speech was Reeves's first major public intervention on her own record since leaving government.
- Reeves argued that closer ties with the EU, even rejoining, could be both credible and radical.
- Reeves gave Andy Burnham credit for his willingness to face reality head on regarding Brexit.
Former UK chancellor Rachel Reeves used a speech at Harvard on Monday, November 2, 2026, to defend the two tax-heavy Budgets she delivered while in office, in her first major public intervention on her own record since leaving Downing Street.
Reeves argued that her increase in employers' national insurance contributed to strengthening Britain's economy by breaking a cycle of low wages and low investment, according to a report by the Financial Times. She also said that closer economic ties with the European Union, including eventually rejoining, could be both a credible and a radical choice for Britain.
Reeves gave credit to Prime Minister Andy Burnham for his willingness to face reality head on over Brexit, and said no one in government could be in any doubt about her view of the damage Brexit has done. She is the MP for Leeds West and Pudsey.