UK's PM-in-waiting Burnham to name Mahmood as finance minister, FT reports
The choice would signal a more centrist approach and could calm markets, as sterling hit a one-year high on the speculation, FT said.
- On Wednesday, the Financial Times reported that prime minister-in-waiting Andy Burnham plans to name Home Secretary Shabana Mahmood as his finance minister when he becomes Britain's prime minister next week, citing three people briefed on his thinking.
- Burnham's team remains divided over the choice, as close advisers including former Transport Secretary Louise Haigh and Anneliese Midgley oppose naming Energy Secretary Ed Miliband due to concerns over his net-zero policies and potential Conservative attacks.
- Sterling rallied to a one-year high against the euro on Wednesday amid speculation of a centrist appointment, reflecting investor preference for Mahmood over Miliband as Burnham seeks to appeal to Labour's "broad church."
- Burnham's team told Bloomberg he has not yet communicated a final decision to his inner circle, leaving the appointment highly uncertain ahead of Monday's formal announcement despite sources describing it as "nailed down."
- Labour officials warn that bypassing Miliband risks alienating the party's left flank and creating early political vulnerabilities, while critics argue a centrist appointment makes it harder for Burnham to convince voters he is delivering radical change.
13 Articles
13 Articles
Why Markets Are Cheering Andy Burnham's Chancellor Pick: Economists Explain
Andy Burnham's expected decision to appoint Home Secretary Shabana Mahmood as chancellor has already lifted markets, with UK government bonds and sterling rising on Wednesday as investors bet his choice will keep Labour's economic policy anchored to the centre ground. UK government bonds outperformed European peers after Mahmood emerged as favourite for Number 11, with the 10‑year gilt yield falling 0.05 percentage points to 4.93 per cent, even …
Shabana Mahmood Set to Be Chancellor
Burnham has appeared to rule out Ed Miliband as chancellor, seen by many as the progressive choice – what does it mean for his impending premiership? Plus: It’s England vs Argentina, on and off the field! We dissect Aaron’s recent viral appearance on The Telegraph with the man himself. Finally, a victim of the forced adoption scandal tells us of the “genetic bewilderment” she and many like her have endured for decades. With Michael Walker & Aar…
Burnham Upsets Labour Left Who Wanted Him to Become UK Premier
As reports swirl that Home Secretary Shabana Mahmood will be Andy Burnham’s pick for chancellor, the direction of his incoming UK government is causing consternation on the left of the Labour Party before he’s even become prime minister.
Shabana Mahmood set to be named Chancellor by Burnham
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 nailed down as chancellor. That’s definitely happening.” Ed Miliband was, until this week, viewed as the frontrunner for …
UK's incoming prime minister Burnham to name Mahmood as finance minister, FT reports
LONDON, July 15 - Andy Burnham is set to name interior minister Shabana Mahmood as his finance minister when he becomes Britain's prime minister next week, the Financial Times reported on Wednesday, citing three people briefed on his thinking. Read more at straitstimes.com.
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