Ed Miliband is about to take control of your money - and you thought Rachel Reeves was bad. We're heading for the nightmare scenario if Andy Burnham becomes PM. By Harvey Jones. PUBLISHED: 17:00, Sat, Jun 13, 2026. Red Ed, red tie, red box.... Ed Miliband will soon leave Britain in a sea of red.
Apparently, his first act will be to show chancellor Rachel Reeves the door. Normally, that would be cause for celebration. Fireworks, street parties, bunting, the works. Don't get too excited. Because he's lining up the worst possible candidate to replace her. Mickey Mouse wasn't available, so he'll replace her with Ed Miliband.
As a journalist, I'm paid to be the bearer of bad news. But this might just break me. The thought of Miliband managing the nation's finances is just too horrific to consider. Unless the good voters of Makerfield get their act together, Andy Burnham will be in Westminster within the week. And since there's no chance of Sir Keir Starmer ever getting his sorry act together, the 'King of the North' ensconced in Number 10 within months. And Ed Miliband will move in next door to Number 11. Just in time to deliver the autumn Budget.
Financial experts will tell you that Reeves has pushed Britain further along the road to fiscal ruin by hiking taxes, killing growth and borrowing to excess. In the eyes of Ed Miliband, she's failed for an entirely different reason. By failing to tax, borrow and spend enough. And he'll be determined to put that right.
As energy secretary, Miliband the profligate has been chucking your money around. Starmer handed him a 63 billion pound war chest, and he's been blowing it on vanity projects such as his Great British Energy quango, and entirely unproven carbon capture and storage tech. He's also carpeting the countryside with wind turbines and solar panels, even though we have more electricity than the grid can manage. Energy giant EDF is begging Miliband to stop, but he won't. He never does. The man has no financial sense. With him, it's all ideology. And this is Burnham's pick as chancellor.
For decades, North Sea oil and gas has kept the UK finances afloat. Now Miliband is killing it off by banning all new drilling. He repeatedly states that more UK production won't cut a penny off energy bills. He never mentions the benefits. It will save jobs, raise tax, boost the balance of payments, bolster the pound and increase our energy security. It will even reduce carbon emissions. Again, Miliband won't listen. Starmer tried to sack him. Reeves rebelled. Labour's union paymasters are furious. Makes no difference. Miliband only hears the voices in his head.
Once again, Miliband is living up to his reputation as a serial backstabber, plotting Burnham's return from within Starmer's cabinet. You might think about watching your own back, Andy. So what can we expect from chancellor Ed Miliband? You can bet your pension on another tax and spend splurge, and more nationalisation. Only one force can stop him. The bond market. And it will do that by triggering a Liz Truss-style gilts crisis and run on the pound. Things could turn nasty, quickly.
Almost the only thing Miliband won't want to spend money on is our crumbling armed forces. This is a man who would rather buy oil from Vladimir Putin than drill our own, remember. We can safely say he doesn't have the national interest close to his heart. As the economy crumbles he'll respond with spin and nonsense, such as the whopper about cutting 300 pounds off our energy bills.
If the thought of Miliband running the nation's finances isn't terrifying enough, Burnham will no doubt welcome Angela Rayner back into the fold too. So expect more jobs-crushing legislation. The scenario just got more nightmarish. I hope Makerfield voters wake up to the danger before it's too late. Mind you, then we'll be stuck with Rachel Reeves. Either way, it's going to be a horror show.
