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Chancellor Rachel Reeves has publicly declared her support for Andy Burnham as the next prime minister, despite speculation that Burnham might assign her a lower-ranking position if he becomes the leader of the Labour Party. Speaking to the BBC, Reeves confirmed, “I’m supporting Andy to be prime minister.” Burnham, recently sworn in as the member for Makerfield, is widely anticipated to succeed Reeves as chancellor should he take the premiership. At present, Burnham is the sole contender for the Labour leadership.
Reeves recognized that decisions about her future role would rest with Burnham but expressed her readiness to offer focused, short-term assistance with energy bills come autumn. When questioned about rumors suggesting Burnham might offer her a diminished cabinet role, Reeves stood firm in her backing of him. She stated, “I’m not going to pre-empt the decisions that the new prime minister will make. I’m backing Andy. I think he’d be a great prime minister, but those are his decisions, not mine to make.”
Burnham is regarded by many within the Labour Party as the leading candidate to succeed Sir Keir Starmer, who announced his resignation earlier this week following numerous senior cabinet resignations. If unchallenged, Burnham could step into the prime ministerial role as soon as July 17.
Reeves underscored the significance of maintaining her fiscal policy guidelines, which prioritize funding daily government expenditures through tax revenue by Parliament’s end and decreasing the debt relative to GDP. She noted that Burnham has pledged to uphold current borrowing and spending frameworks. “The last government lost control of the public finances,” Reeves remarked, “It sent inflation through the roof and interest rates through the roof. So control of the public finances has a real impact on families today.”
Despite increasing the government’s budget flexibility via enhanced financial headroom, Reeves stressed that the public must remain confident in the party’s dedication to fiscal responsibility. She warned, “Because if you lose control of the public finances, it is ordinary working people and businesses who pay the price with higher inflation, higher taxes and indeed higher interest rates.”
Reeves was not present outside 10 Downing Street during Sir Keir’s resignation announcement but did join Burnham and others for a group photo after his swearing-in at Westminster. When asked about her absence, she refused to elaborate but reaffirmed her loyalty, saying, “I don’t think anyone can doubt my commitment to the prime minister. I’ve been by his side for six years now as shadow chancellor and then as chancellor of the exchequer.”
Reflecting on her tenure as chancellor, Reeves admitted there were areas for improvement but expressed pride in her accomplishments, which include raising both the national living wage and the minimum wage, alongside fostering economic growth and helping to stabilise inflation. “I know that whoever is prime minister and chancellor in the future will inherit a stronger economy than the one I inherited two years ago,” she concluded
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