Rachel Reeves, Chancellor of the Exchequer, is a paper millionaire at age 46. Reeves draws an impressive salary in the role she’s held since summer 2024 meanwhile her husband Nicholas Joicey, who is also a senior civil servant, make good amount of cash from renting out London properties.
Here’s how rich Rachel Reeves is:
Salary
As the UK chancellor, Reeves gets to call 11 Downing Street her official residence. She ruffled feathers last year when she said she “winces” at her bank balance after saying her £86,000 annual salary is not enough.
The London School of Economics and Oxford University graduate has left those days behind as she draws an annual salary of £150,000 per annum – double of what she was making as a Labour MP.
Her husband, Nicholas Joicey, is the director general of the Economic and Domestic Secretariat at the Cabinet Office and is known to be earning nearly £175,000 per annum.
Property empire
Reeves and her husband have two London properties to their name through which they earn a big fat rental income.
Reeves lets out her four-bedroom South London home for more than £3,000 a month while Joicey has rented out his two-bedroom central London flat for £3,000 per annum since 2011.
Together, the couple are reportedly earning over £75,000 in rental income.
Perks of being chancellor
Reeves also enjoys the luxury of using the Dorneywood grace-and-favour estate in Buckinghamshire for official duties. The luxurious 18th century residence was given to the UK government by the industrialist Lord Courtauld-Thomson in 1947 as a country home for a senior civil servants.
