Ed Miliband is in the running to be the new chancellor.Energy secretary Ed Miliband “would be a disaster” as chancellor if he is appointed to the job by Andy Burnham, according to a top Labour adviser.
Lord Walker, the government’s cost of living tsar, said the business community and the money markets “would freak out” if Miliband replaced Rachel Reeves in the role.
He also said Miliband had been “too ideological” on climate change, which had made the cost of living crisis worse by putting up energy bills.
Burnham is considering making Miliband the new chancellor in one of his first acts as prime minister.
The pair are close political allies, and Miliband is already ...
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