Chancellor Rachel Reeves Says FTSE 10,000 Shows Progress Under Starmer Government
London, UK — The UK’s main stock index, the FTSE 100, has passed the 10,000-point mark for the first time in history — a milestone that Chancellor Rachel Reeves says shows progress under Prime Minister Keir Starmer’s government.The Times+1
What Happened?
On January 2, 2026, the FTSE 100 — a stock market index made up of the UK’s 100 biggest companies listed on the London Stock Exchange — briefly went above 10,000 points before closing slightly lower. This was a symbolic high point after a strong year in which the index rose about 21.5 %, its best performance since 2009.The Times+1
The rise was driven by gains in sectors such as mining, defence and banking, and was supported by global investor interest. Many of the companies in the FTSE 100 earn most of their money outside the UK, which also influenced the index’s performance.Reuters
Reeves Calls It Progress
Chancellor Rachel Reeves welcomed the milestone, calling it a “vote of confidence” in Britain’s economic outlook. She said that the strong stock market shows that investors have more faith in the UK economy under the Starmer government. Her message suggests that recent policies and economic planning are starting to have a positive effect.Reuters
Reeves pointed out that rising stock prices can help people’s savings and pensions, and that confidence in markets is important for long-term growth.
Why It Matters
The FTSE 100 reaching 10,000 is symbolic — not all economists agree it shows the whole economy is stronger. Although it reflects global investment trends, many of the biggest companies listed do much of their business overseas, meaning the index can rise even if the UK economy itself is not growing fast.The Standard
Still, this milestone comes at a time when the government wants to show that its economic policies are working, especially as it prepares for important local elections in May.
Mixed Views from Experts
Some analysts welcomed the strong market performance, saying it could attract more investment to London and boost financial confidence. Others warned that a high stock market does not always mean that ordinary people feel better off, especially if wage growth and jobs are still difficult for many families.
What Comes Next
With political pressure on the government over the economy, the FTSE 10,000 milestone gives Reeves and her supporters something positive to point to. However, the real test will be whether this sentiment spreads beyond markets and into wider public confidence in jobs, prices and living standards.