Story perspectives

Burnham Urged to Keep Reeves Chancellor, Promises Rate Cuts

6/5/2026

Summary

Story summary

Labour MPs are pressuring Andy Burnham to keep Rachel Reeves as chancellor, telling him that retaining her is a condition for prime ministership to avoid unsettling markets.
Backbenchers say Rachel Reeves should be removed because of tax hikes and winter fuel allowance controversy.
Andy Burnham has pledged to abolish rates for cafes, shops and hairdressers if he becomes minister, naming Ed Miliband, Shabana Mahmood and Wes Streeting as chancellor candidates.

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Story summary

Labour MPs are pressuring Andy Burnham to keep Rachel Reeves as chancellor, telling him that retaining her is a condition for prime ministership to avoid unsettling markets.
Backbenchers say Rachel Reeves should be removed because of tax hikes and winter fuel allowance controversy.
Andy Burnham has pledged to abolish rates for cafes, shops and hairdressers if he becomes minister, naming Ed Miliband, Shabana Mahmood and Wes Streeting as chancellor candidates.