Rachel Reeves becomes BritainÂ’s first female Chancellor

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I like how there’s no wasting time in naming a cabinet in the UK. In most places this can take weeks or months.

Rachel Reeves is in a delicate spot after the gilt blowup under Liz Truss. This appointment isn’t a surprise and she’s aiming to project stability, saying she would never “play fast and loose” with the country’s finances.

In general, she has been coy about what fiscal policies that she and Labour would pursue.

For the party more broadly, the first international item on the agenda is a NATO Summit in the US on July 9-11.