Shabana Mahmood expected to be named Andy Burnham’s chancellor
Summary
Shabana Mahmood is likely to become chancellor in Andy Burnham's upcoming government after debates about Ed Miliband taking the role. Burnham has not made a final decision yet but may assign Miliband to the Foreign Office instead.Key Facts
- Shabana Mahmood is expected to be named chancellor by Andy Burnham.
- There was a disagreement over whether Ed Miliband or Mahmood should get the chancellor job.
- Some party members and big businesses worry Miliband could face heavy criticism and harm market confidence.
- Miliband might instead be appointed to the Foreign Office with a high-ranking title.
- Wes Streeting could replace Mahmood as home secretary.
- The appointment of the chancellor is seen as crucial because it shapes government economic policies.
- Investors reacted positively to news about Mahmood becoming chancellor, with UK government borrowing costs dropping slightly.
- Burnham’s cabinet choices are not finalized and he is keeping details limited until he officially takes office.
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