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Story summary
- Prime Minister Andy Burnham appointed John Healey as chancellor of the exchequer.
- Healey resigned as defence secretary in June 2026, calling the defence plan “well short.”
- As chancellor, Healey must raise defence spending to 3% of national income while cutting borrowing costs.
- He pledged fiscal discipline, welfare-bill cuts, and backing for Burnham’s “reindustrialise Britain” agenda.
