Rachel Reeves’ historic Budget moment is now hanging in parliament forever
A new oil portrait capturing Rachel Reeves in the tense moments before delivering her groundbreaking first Budget as the UK’s first female Chancellor of the Exchequer has been acquired by the Parliamentary Art Collection, ensuring the milestone will remain part of Britain’s political heritage for generations.
The painting, by artist Sally Ward, was unveiled on 23 March during an event marking the 170th anniversary of the Society of Women Artists (SWA) and Women’s History Month.
It depicts Reeves preparing to step up to the dispatch box in October 2024, a scene the artist describes as both a traditional portrait and a contemporary history painting.
Based on a photographic reference by Simon Dawson, the work was selected by the Speaker’s Advisory Committee on Works of Art from an open-call shortlist developed in partnership with the SWA.
It will join the permanent Parliamentary Art Collection and is expected to hang in Portcullis House later this year. Selected shortlisted works, including this portrait, will also be displayed at the SWA’s summer exhibition at the Mall Galleries in London from 23-27 June 2026.
A defining moment in political history
Reeves made history on 30 October 2024, when she became the first woman in the more than 800-year existence of the office to deliver a UK Budget. In her speech, she highlighted the significance of the moment for future generations of women.
In a statement following the portrait’s acquisition, Reeves reflected on that day:
“When I stood at the dispatch box to deliver the first Budget by a female Chancellor, I was acutely aware of the generations of women who had fought to make that moment possible. I am deeply honoured that Sally Ward’s portrait will join the Parliamentary Art Collection as a permanent record of that history. I hope this portrait serves as a reminder to every young woman and girl across the country that there should be no ceiling on their ambition.”
The Chancellor added that the collaboration between the SWA and Parliament was “a fitting tribute to all that women have achieved, and a reminder of how much further we can go.”
Reeves’ first Budget in 2024 focused on fiscal repair after years of economic challenges, while her subsequent statements have continued to shape debates over taxation, spending, and growth.
The portrait immortalises not just the individual but the symbolism of breaking an 800-year barrier in one of Britain’s most powerful economic roles.
As the artwork takes its place in Parliament, it serves as both a historical document and an inspirational piece, a visual reminder that pivotal moments in democracy can be captured on canvas and preserved indefinitely.
