Rachel Reeves became the first woman in British history to address a party conference as chancellor of the exchequer as she sought to move past the incessant gloom of the new Labour government’s recent messaging to carve out a vision of a more optimistic future for Britain.

Rachel Reeves is set to use her first speech at a Labour conference to vow there will be "no return" to austerity under a Labour government. The chancellor is expected to declare that her first budget, due on October 30, will not be an austerity measure, and instead will “rebuild Britain” and deliver the change they promised the electorate.

A group of economists wants Reeves to raise public investment – but her plans so far point to a tight squeeze on spending.