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UK Election Results 2024 LIVE: Labour’s Rachel Reeves, poised to become the first female Treasury chief if her party wins the UK election 2024, acknowledged the daunting task ahead.

"I have no illusions about the magnitude of the challenge we're facing," she told Sky News, as reported by the Associated Press.

Reeves highlighted the Conservatives' grim economic legacy, noting that the U.K.'s debt stands at 100% of national income and the tax burden is at its highest in seven decades.

She emphasized that immediate turnaround cannot be guaranteed.

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