LONDON — Former UK Finance Minister Rachel Reeves has announced her resignation from government following the appointment of Prime Minister Andy Burnham, becoming one of the most senior ministers to leave office during the new administration's transition.

In a public statement, Reeves thanked colleagues for their support during her time in office and wished the new Prime Minister and Cabinet success as they begin implementing their policy agenda. She also reaffirmed her commitment to supporting the Labour government from outside the Cabinet.

The resignation comes at a critical moment for the UK economy, with investors and businesses closely watching the government's next fiscal decisions, spending priorities and plans to support economic growth. The appointment of a new finance team is expected to play a key role in shaping Britain's economic strategy over the coming months.

Market analysts say maintaining confidence in the UK's fiscal framework will remain a priority as the government prepares future budgets and responds to inflation, investment and public spending challenges.

The latest Cabinet transition marks another significant chapter in Westminster's political landscape, with further ministerial announcements expected as the new government finalises its leadership team.