Rachel Reeves has become the first woman in the history of the United Kingdom to be named the country's chancellor after new Prime Minister Sir Keir Starmer unveiled his cabinet following Labour's landslide election win.
Reeves was put in charge of the country's finances by Starmer, and given a job and title, Chancellor of the Exchequer (the equivalent of treasurer in Australia), that dates back more than 700 years.
"It is also a huge privilege to be the first-ever female Chancellor of the Exchequer," she said.
"To every young woman and girl… let today show that there should be no ceilings on your ambitions, your hopes or your dreams.
"But there is a deeper responsibility too to women whose work is too often undermined, who have borne the brunt of inequality and whose lives and interests are too often excluded from economic policy-making.
"Together, we are going to change that."
The former Bank of England economist faces the daunting task of delivering Labour's promise to get the economy growing and invest in public services while working with a large national debt.
Addressing cost-of-living pressures and other economic woes had been a crucial part of the party's pre-election pitch, and Reeves said it would be the new government's "central mission".
"I know that responsibility... to guide our economy through uncertain times, to restore stability in an age of insecurity, to build prosperity that draws on the talents of working people," she said.
"The central mission of this government will be to restore economic growth... it is now our national mission and it will be for the Treasury to lead that mission.
"Not growth for growth's sake but growth for a purpose. To make every part of our country better off.
"To deliver on this mission, I want to be the most pro-growth Treasury in our country's history. That will mean doing what the Treasury does best - building growth on a rock of economic stability.
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"But it also means taking on new challenges and new responsibilities to fix the foundations and to rebuild Britain; to drive growth not just in a few pockets of our country but every single part of Britain."
Elsewhere in the cabinet, Angela Rayner was named deputy prime minister, as well as secretary for levelling up, housing and communities.
David Lammy was appointed foreign secretary, while Yvette Cooper is the home secretary looking after key issues including immigration and policing.
John Healey was named the defence secretary.
Pat McFadden, Labour's national campaign coordinator, has been appointed Chancellor of the Duchy of Lancaster — the most senior minister in the Cabinet after the prime minister.
- With Associated Press
