Key facts
- Andy Burnham is planning to deliver a major economic speech next week.
- Burnham is reportedly considering Ed Miliband, Wes Streeting, or Shabana Mahmood for the role of Chancellor.
- The Times suggests Burnham is leaning towards Ed Miliband for the Chancellor position.
- Concerns exist in the bond markets regarding the potential appointment of Miliband as Chancellor.
- Burnham is expected to adhere to Rachel Reeves' fiscal rules.
- Burnham is likely to receive defense and security briefings ahead of a potential leadership election.
Andy Burnham, a leading contender to become Prime Minister, is planning to deliver a significant speech on the economy next week. This move is part of an effort to reassure bond markets about his fiscal stewardship, with reports suggesting he will maintain Rachel Reeves' existing fiscal rules. The choice of Chancellor is a key concern for markets, with The Times reporting that Burnham is leaning towards Ed Miliband for the role. Other potential candidates for Chancellor include Wes Streeting and Shabana Mahmood. The Guardian also noted that Darren Jones, an ally of Keir Starmer, might consider a leadership bid, though it is seen as unlikely to succeed. Burnham is also expected to receive defense and security briefings, and senior civil servant Antonia Romeo is reportedly keen to begin access talks with potential Labour leadership candidates as soon as possible. A policy team is also taking shape, with Ed Miliband and Louise Haigh working on a US-style transition team, and Josh Simons and Miatta Fahnbulleh developing new government policy.