Shabana Mahmood set to be named Chancellor by Burnham Politics Shabana Mahmood is set to be named Chancellor by Andy Burnham next week when the former Manchester mayor takes the keys to Number 10, according to reports. The home secretary has now pipped Ed Miliband, Yvette Cooper and Wes Streeting to Rachel Reeves’ post, the Financial Times reported. A source told the paper: “Shabana is [...]
The City will bid good riddance to Rachel Reeves Opinion Rachel Reeves should be remembered: for dissembling, breaking promises and making Brits poorer. Little consolation, then, that her likely successor Ed Miliband will be so much worse, says Alys Denby Rachel Reeves will make what is likely to be her final Mansion House Speech this evening and will encourage Andy Burnham to continue her legacy. [...]
Reeves issues warning to successor as she battles to defend record Politics Rachel Reeves is set to issue a stern warning to her successor in Number 11 as she battles to defend her record after two years in office ahead of the overthrow of Labour’s election-winning leadership. In what is widely expected to be her final act as Chancellor before Andy Burnham is made Prime Minister next [...]
Rachel Reeves’ legacy of tinkering with the City is not enough, says Mel Stride July 9, 2026 Sir Mel Stride has branded Rachel Reeves’ legacy in government as mere “tinkering” with City reform as the top Tory predicted her successor will create a “hostile” environment for the banking sector. In an interview with City AM, the shadow Chancellor branded Reeves’ two-years in the Treasury as “managerial incrementalism,” adding it was “not enough”. [...]
The seven growth tests every Budget must pass July 8, 2026 The next Budget will inevitably contain difficult fiscal choices. But before any measure is announced, ministers should be required to answer a far simpler question: What business behaviour is this designed to change, says David Bharier When Rachel Reeves stood at the despatch box on 30 October 2024 to deliver her first Budget, an employer [...]
World Cup boost fails to land UK services sector on front foot July 3, 2026 A World Cup boost failed to drag the UK’s services sector to growth last month after it recorded its fastest rate of decline in three-and-a-half years as businesses braced for the Andy Burnham coronation. The latest Purchasing Managers Index (PMI) from S&P Global showed a reading of 48.8 in June, falling from 49.3 in May. [...]
Burnham’s choice of Chancellor will define his premiership June 29, 2026 Economic policy is so fraught that Burnham must choose from various paths. Retaining Reeves means warmed-over Starmerism; Miliband would be a sign that the Labour Party is tacking left; and choosing Streeting would be an advertisement that the Blairites were getting the band back together. What signal will the next Prime Minister seek to send? [...]
UK banks fear a ‘disaster’ with Ed Miliband as Chancellor June 24, 2026 City banks are fretting over the prospect of Ed Miliband as Chancellor as Andy Burnham mulls who he will give the keys to Number 11. The banking industry is bracing for a shake-up at the Treasury and fears it could be hit with a fresh raft of taxes under a new Chancellor while key deregulatory [...]
Burnham to lay out economic plan, but markets fear Miliband as Chancellor June 23, 2026 With more than three weeks to go before he can formally clinch the keys to 10 Downing Street, leadership challenger Andy Burnham is planning to make a major speech on the economy next week. It’s part of an effort to reassure the bond markets – to which he once said we shouldn’t be “in hock” [...]
As it happened: How Starmer resigned and when Streeting backed Burnham June 22, 2026 Sir Keir Starmer resigned as Prime Minister. The Labour leader said on Monday he “had heard the answer of the parliamentary party” that he was not the right person to lead the party into the next election. He said nominations for a new leader will open on July 9, and if a contest goes ahead, [...]