With Andy Burnham almost certain to become Prime Minister next month, attention has shifted to his Cabinet choices, particularly the Chancellor of the Exchequer. This appointment will signal to businesses, markets, and the country how Burnham intends to manage the UK economy.
Ed Miliband: Experienced but Left-Leaning
Ed Miliband, the current Energy Secretary, has been one of Burnham's biggest supporters in Sir Keir Starmer's Cabinet, reportedly putting him in the PM's bad books. Even before Burnham's victory in the Makerfield by-election, Miliband was considered the most likely choice for Chancellor. He has depth of Treasury experience, having served as Chairman of Gordon Brown's Council of Economic Advisers over 20 years ago. However, recent briefings against him suggest concern that this pick would mark a sharp shift to the left and a return to an earlier generation of Labour politicians.
Wes Streeting: Balancing the Ticket
Former Health Secretary Wes Streeting had ambitions for the leadership but threw his weight behind Burnham after Starmer's resignation. He denied being promised a Cabinet position, telling the BBC: 'He has not offered me any jobs. That's not what our conversations have been about. This has been about ideas.' Bookmakers see him as a top pick for Chancellor, offering a balance between a 'soft left' PM and a Chancellor closer to the party's right.
Rachel Reeves: Likely Out
Rachel Reeves, tightly tied to Starmer's premiership, is expected to be replaced. The Times reported she would be booted out as Chancellor when Starmer goes. She was behind some of the most unpopular policy decisions of Starmer's two years in charge. While she may argue for stability, it seems clear her time is up.
Pat McFadden: Safe Pair of Hands
Pat McFadden, current Work and Pensions Secretary, has gained a reputation as one of Starmer's most loyal ministers. His current remit is closely linked with the Treasury, and he worked in the Business Department under the previous Labour government. He was a top pick to replace Reeves last year and may be the ultimate market-reassuring 'safe pair of hands'.
Other Possibilities
Burnham might reward close allies like Anneliese Midgley or ex-Transport Secretary Louise Haigh. He could also pluck current Cabinet ministers such as Shabana Mahmood or Yvette Cooper from their roles. With a short timeline before taking office, he may need to decide sooner than he'd like.
