Andy Burnham to Enter Downing Street Monday After Keir Starmer Resigns

Andy Burnham will move into Downing Street on Monday as the next UK prime minister after Sir Keir Starmer resigned, BBC News reported. Burnham's team stated that no decisions have been made on cabinet positions and that announcements, including for chancellor, will not occur until Monday.

The BBC has been told there are live discussions about moving current home secretary Shabana Mahmood into Number 11.

The Financial Times reported Mahmood becoming chancellor as a certainty based on three sources close to Burnham. Kathleen Brooks, research director at XTB, said the pound rose about 1% against the US dollar this week on those reports. Separate Press Association reports indicated Mahmood is keen to remain as home secretary.

Other names under discussion include current energy secretary Ed Miliband, who was the bookmakers' strong favorite in late June, and foreign secretary Yvette Cooper, who previously served as chief secretary to the Treasury. Wes Streeting was an early favorite, while current work and pensions secretary Pat McFadden is viewed by some as the most qualified.

Current chancellor Rachel Reeves is seen as unlikely to retain the post.

Lord Jim O'Neill advised Burnham to determine his priorities as prime minister before selecting a chancellor. Reeves told the British Chambers of Commerce conference she was proud of her record but that there was more to do.