Miliband opponents pour cold water on Chancellor hopes
Opponents of Ed Miliband believe that they have quashed his bid to become Chancellor, according to reports, in a sign of division within Andy Burnham’s camp just days before he is due to take over as Prime Minister.
While the former Manchester Mayor has refused to be drawn on his Cabinet picks, Miliband, a key Burnham ally, was seen as the front runner for the job.
However, Labour whips have told MPs that they expect current home secretary Shabana Mahmood to be handed the role while Miliband will be offered the job of foreign secretary, the Financial Times reported.
Miliband was reportedly the first Cabinet minister to break rank and tell Sir Keir Starmer that it was time to go. He has been a key figure in shaping the economic direction of Burnham’s hastily assembled plan for government.
The former Labour leader remains a major figure in the party who, according to reports, refused a mooted move to be housing secretary during Starmer’s reshuffle in September.
Who will be the next Chancellor?
Just five days before Burnham is due to stand in front of the lectern outside Number 10 Downing Street and give his first speech as PM, his most crucial Cabinet appointee is up in the air.
While Shabana Mahmood is the new frontrunner for the role, there have been numerous reports that the senior Labour MP is eager to stay in charge of the Home Office.
Meanwhile, the i Paper has reported that Yvette Cooper is now being considered for the role.
The foreign secretary was chief secretary to the Treasury in Gordon Brown’s government, the number two to then-Chancellor Alistair Darling – a role that she took over from Andy Burnham in 2008.
Rachel Reeves warned at her final Mansion House speech that the new government must keep a tight grip on fiscal credibility and stability.
Starmer’s Chancellor said that a strong economy “requires choices” and said that she left a legacy of closer EU ties and closer ties with the City.
Whoever does take over on Monday will be the eighth Chancellor in ten years, an unprecedented decade of churn at the very top of the Treasury.