Chancellor Rachel Reeves delivered a lengthy plea to incoming Prime Minister Andy Burnham during her Mansion House speech, arguing she should remain in her role despite widespread expectations she will be replaced. The speech, officially aimed at financial services managers in central London, was actually directed at Mr Burnham, who becomes prime minister on July 20.
Reeves Tries to Win Over Burnham
Ms Reeves urged Mr Burnham to forget about potential replacements such as Ed Miliband, Shabana Mahmood, and Pat McFadden. "If you're wondering who should be chancellor, the answer is staring you in the face. Just let me stay where I am," she effectively said. However, sources indicate Mr Burnham is likely to dismiss her, seeking to rebuild voter support for Labour.
Key Policy Pledges
Ms Reeves committed to two priorities of Mr Burnham: devolution and reversing Brexit. On devolution, she advocated giving regional leaders control over national taxes, including income tax and business rates, saying "there is much further to go." On Brexit, she backed Sir Keir Starmer's EU reset but called for going "much further," including a trusted economic and security partnership where the UK is included by default. She stated, "The prize for Britain of a closer relationship with Europe is immense."
Analysis: Doomed Attempt
Political analysts note Ms Reeves has been Chancellor for two years but only now adopts these positions. Despite her efforts, the attempt to re-apply for her job is seen as doomed. Mr Burnham will likely sack her to signal a fresh start, according to Whitehall Editor Jonathan Walker.
