Powell suggests Miliband would be good chancellor for Burnham

Labour deputy leader Lucy Powell stated that Ed Miliband would make a "good" chancellor to likely next prime minister Andy Burnham, according to a BBC interview. Powell, who served as Miliband's chief of staff in opposition, appeared to endorse him for the Treasury role, though some in Burnham's camp acknowledge such a move could be politically risky. Powell added that speculation around cabinet posts was "unedifying" and the focus should be on creating and securing jobs. Miliband remains the frontrunner for chancellor, with Burnham's team viewing him as capable of pursuing a more radical economy, but they also acknowledge Burnham would expend political capital by appointing him. Some inside Labour are concerned that putting Miliband in the Treasury could unsettle markets, while big business is sceptical and several big unions are opposed due to his position on the North Sea and net zero agenda. Burnham is expected to announce plans to devolve powers from Whitehall to England's regions in his first major policy speech since Keir Starmer's resignation as prime minister. Other potential candidates for chancellor include Shabana Mahmood, Wes Streeting, Yvette Cooper, and John Healey, though Mahmood is understood to be keen to stay at the Home Office.

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Sources: The Guardian