Speculation is high that Ed Miliband could be the next chancellor under Prime Minister Andy Burnham. Britain's likely next prime minister is reportedly yet to settle on his choice for the Treasury, but rumours have focused on the Energy Secretary. Other potential names include former health secretary Wes Streeting, Home Secretary Shabana Mahmood and Foreign Secretary Yvette Cooper.
Risky Choice for Treasury
Mr Miliband is seen as a risky choice because of his support for expensive net zero policies and a Left-wing agenda. His allies argue he is the only candidate with the experience and vision needed to turn the economy around. However, Unite chief Sharon Graham has claimed Mr Miliband would put a “noose” around job creation.
Business and Market Concerns
Iceland boss and Labour peer Lord Walker warned he would be a "disaster" as chancellor. He told BBC Newsnight: “Climate change is real. I believe in science. But I think how we’re going about it is far too ideological. I think it’s putting unfair pressure on households and on bill payers in a very regressive way. I think if Ed were to come in, it would be baulked at by the business communities, the markets would freak out.”
The Prime Minister's right-hand man Darren Jones appeared to suggest the former party leader would not meet his “tests” to run the Treasury. He said any new chancellor should not seek to “control” the prime minister, and would have to reassure markets, unions, MPs and the public – declining to say whether he thought Mr Miliband met those criteria.
Union Support and Poll
But Mr Miliband has been backed by a series of unions including Unison. It comes as Rachel Reeves is expected to be sacked by Mr Burnham or demoted to a more junior role. Readers can now vote in our online poll on whether they think Ed Miliband would do a good job at the Treasury.
