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Who could replace Rachel Reeves as Chancellor and what would it mean for your money?
Bond investors are watching for a replacement who can preserve fiscal discipline and avoid unsettling the pound and gilt markets.
- UK bond investors say Chancellor Rachel Reeves is on borrowed time following Prime Minister Keir Starmer's resignation, as markets actively plot the potential impact of her possible replacements.
- Reeves has maintained strict fiscal rules to lower the nation's debt burden, covering day-to-day spending from tax revenues to reassure markets after years of political volatility.
- Investors view Health Secretary Wes Streeting as "much more centrist" than Energy Secretary Ed Miliband, said Craig Inches of Royal London Asset Management Ltd, with some worrying Miliband would favor increased borrowing.
- Greater Manchester Mayor Andy Burnham confirmed on Monday he will seek the premiership, though Reeves has privately pushed to remain as Chancellor, according to people familiar with the matter.
- Incoming Prime Ministers often use cabinet reshuffles to install key allies in senior positions, with Chief Secretary to the Treasury Darren Jones and Yvette Cooper emerging as potential contenders for Treasury roles.
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Andy Burnham 'to sack Rachel Reeves' as he prepares bid to save Britain's economy
Andy Burnham is expected to sack Rachel Reeves as Chancellor as part of his preparations for power.The Makerfield MP is set to deliver a major policy speech next week in a bid to reassure the markets and hype up his credentials on the economy.Mr Burnham, The Times revealed, will pledge to grow the economy and commit to Labour's budget rules amid concern in the markets about his looming move to No10.He will also pledge to reduce the national debt…
·London, United Kingdom
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Ilkley Gazette+7 Reposted by 7 other sources
Who could replace Rachel Reeves as Chancellor and what would it mean for your money?
Rachel Reeves could remain Chancellor, but several senior Labour figures are seen as potential successors. Here's who could also be in the…
·Ilkley, United Kingdom
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Coverage Details
Total News Sources14
Leaning Left0Leaning Right4Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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