Iain Watson: Burnham faces crucial choice for chancellor as battle for No 11 continues
As Andy Burnham prepares to take office as Prime Minister, speculation continues regarding his choice for Chancellor of the Exchequer. The decision is seen as a critical signal to both the political establishment and the bond markets.
Why it matters
The appointment of a Chancellor is a key indicator of a new government's economic policy direction and its relationship with financial markets.
Image source, Getty Images By Iain Watson Political correspondent Published 17 minutes ago The battle for Number 10 is over.
An overwhelming number of Labour MPs have nominated Andy Burnham. Under Labour's rules he needs trade union support too.
He crossed that threshold today. He is moving into Number 10 on Monday.
But the beneath-the-radar battle for Number 11 Downing St is continuing. Whoever Burnham appoints as chancellor - and next-door neighbour in Downing Street - will send a signal of his intent both to politicians and to the bond markets.
The official line from team Burnham is that no decision has been taken.
Announcements on cabinet posts are not expected to be made until Monday, when Burnham moves to Number 10.
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