Rachel Reeves has pleaded with the man set to become prime minister to keep her in the job, insisting her economic plan is "beginning to bear fruit" — even as Andy Burnham’s allies make clear she is likely to be replaced.
The chancellor threw her support behind the former Greater Manchester mayor at the British Chambers of Commerce conference on Thursday, urging him to "stick to what I'm doing" after Sir Keir Starmer announced his resignation on Monday. Burnham could take over as soon as 17 July if no other contenders emerge, and is reported to be considering Ed Miliband, Wes Streeting or Shabana Mahmood as possible replacements for Reeves.
“Reeves urges Burnham to keep her as chancellor, insisting her plan is working, as allies say she will be replaced.”
"I hope that whoever is chancellor, in the future… sticks to what I'm doing because it is beginning to bear fruit," Reeves told Sky News journalist Sophy Ridge, who was hosting the conference. She claimed she had brought "stability" to the economy and was "proud" of her record on inflation and growth, while promising further reforms to business rates and fiscal devolution in the budget later this year.
But the New Statesman reports that the choice of chancellor is Burnham’s biggest decision and that he is expected to make up his mind this weekend. "Not Rachel," a Burnham backer said bluntly, suggesting her rearguard action may be forlorn. Wes Streeting, from the centre right, is the favourite with Ladbrokes and has been working with pro-growth figures Will Hutton and former Bank of England economist Andy Haldane. Yet Streeting has not lobbied for the job and has "no particular expectations". Ed Miliband, from the centre left, faces intense scrutiny from bond markets and union leaders over his net zero policies — but one senior MP noted the case for him "hasn't been properly aired".
Reeves herself acknowledged the need for change at the top, telling the conference: "Clearly we need to do more to connect to the country to tell a better story of what we've done in government but also set out the vision of where we want the country to go." She said Burnham "will be able to provide" that vision as prime minister, calling him "a great communicator" with a track record of delivery.
Burnham is so far the only contender to replace Starmer, who resigned after a slew of senior cabinet resignations. The decision on who holds the purse strings — and whether Reeves’ fiscal rules survive — will define his government from day one.