Andy Burnham to pick unexpected Chancellor ahead of grim economy warning as allies block Ed Miliband
Andy Burnham could turn to Yvette Cooper as a surprise pick for Chancellor as the incoming Prime Minister looks to build his cabinet.
The unexpected move would mean Rachel Reeves would be replaced by the Foreign Secretary in a bid to steady the economy.
Ed Miliband is also understood to be in the running, with the Energy Secretary set to turn his back on Net Zero and back North Sea drilling if he is named to the role under the incoming Prime Minister.
Concerns have emerged that he would become a lightning rod for criticism of the government, with senior allies of Mr Burnham believing they have succeeded in preventing Ed Miliband from becoming chancellor.
However, Mr Burnham will receive updated economic forecasts from the Treasury on his first day in office that will paint a challenging picture.
The former Mayor of Manchester will be told by senior civil servants on Monday that he faces a worsening economy, rising borrowing costs and interest rate hikes in his first six months of his premiership.
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Rachel Reeves claims Britain's relationship with the EU is 'more important' than any other alliance
Rachel Reeves has declared that Britain’s partnership with the European Union is now the country’s most important international alliance.
She told City leaders that the UK’s future prosperity depends on deepening ties with Brussels.
Addressing the annual Mansion House dinner on Tuesday evening, the Chancellor said: “In our age of insecurity, the economic strength of our country will rest on strategic alliances.
“No alliance is more important than our relationship with the European Union.”
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