Ed Miliband Discussed as Potential Chancellor Under Andy Burnham

Briefings from advisers and union officials have identified Ed Miliband as the leading candidate to become chancellor if Andy Burnham forms a government. The Treasury post carries responsibility for fiscal rules and departmental spending decisions.

Portes, a professor at King’s College London and former Treasury adviser, said the department maintains both institutional and political functions. He stated that alignment between Miliband and Burnham would determine whether the partnership succeeds, citing past pairings such as Lawson and Thatcher.

Portes rejected claims that Miliband’s record would unsettle financial markets, noting the government’s commitment to existing fiscal rules.

Longlands, chief executive of the Centre for Local Economic Strategies, said any incoming chancellor must address funding frameworks for devolved regions. She noted that accountability requirements are set by central government and that relations with Manchester and other areas were strained during the Covid period.

Longlands added that the Treasury’s role in setting devolution terms would require review if No 10 North is established.

Ambrose, The Guardian’s energy correspondent, said the next chancellor must resolve differences with the energy department over North Sea drilling licences. She stated that approvals for the Jackdaw and Rosebank fields would not breach the Labour manifesto but would be viewed by some climate advocates as inconsistent with prior commitments.

Ambrose also noted that further weakening of support in former industrial areas could affect electoral prospects while failure to meet green targets could alienate the party’s progressive base.