Ed Miliband is set to replace Rachel Reeves as chancellor under Andy Burnham, a move that Giles Sheldrick warns will send markets into meltdown and inflict further pain on the British economy. The Transport Salaried Staffs' Association (TSSA), a Labour-affiliated rail union with around 17,500 members, has endorsed Miliband, calling him an “experienced hand willing to take a different approach to delivering an economy that works for everyone.” But critics say the net zero fanatic would bring vicious tax hikes and anti-business policies that would be a disaster for the country.
Union Support for Miliband
TSSA General Secretary Maryam Eslamdoust said: "The Labour movement needs an experienced hand as Chancellor who is responsive to the needs of working people and who represents a clear break from the status quo. The next Chancellor must be serious about growing the economy by investing properly in the infrastructure Britain needs to unlock sustainable growth." Unison and the National Education Union are also backing Miliband for chancellor.
But Sheldrick argues that taking advice from a union whose members work for the “shambolic and grossly expensive railways, ferries, and bus services” speaks for itself. He describes Miliband as a “perennial failure” and a “foaming-mouthed socialist” who struggles to eat a bacon sandwich, let alone run an economy.
Miliband's Record Under Fire
As energy secretary, Miliband has stubbornly refused to issue new oil drilling licences in the North Sea, despite Britain being strangled by an ongoing energy and fuel crisis. His one-eyed approach to climate change has exacerbated the cost of living crisis by ramping up household energy bills. Even Lord Walker, Labour’s cost of living tsar, said the business community and money markets would “freak out” if Miliband replaced Reeves.
Lord Walker said: "He’d be a disaster. I think if Ed were to come in, it would be balked at by the business communities, the markets would freak out. [Starmer] has stuck by him with these net zero policies, despite everyone around him telling him that this is really impacting the cost of living in a very adverse way."
Political Context and Criticism
Miliband’s path is seen as anti-business and anti-growth, dating back to his ill-fated time as Labour leader when he said companies should be classified as “producers” or “predators.” He was the first to plunge the knife into Keir Starmer’s back about a month ago, telling him his time was up. Andy Burnham, who lost to Miliband in the 2010 Labour leadership contest and to Jeremy Corbyn in 2015, is now set to become prime minister without a mandate after a “junta-like assault” on Starmer.
Sheldrick warns that Labour’s ideological obsessions, driven by Miliband’s dogma, have left Britain dangerously dependent on foreign imports instead of backing British energy and jobs. He concludes that this is bad for growth, bad for security, and bad for working families.
