World
UK: Shabana Mahmood favourite for Chancellor role in Burnham government
Shabana Mahmood, Britain's current Home Secretary, has emerged as the leading contender to become Chancellor in Andy Burnham's incoming government, according to the Guardian on 15 July 2026. Senior Labour figures expect her to move to the Treasury, displacing Ed Miliband, who is viewed as an electoral liability. Markets responded positively: sterling rose and 10-year gilt yields fell by 0.06 percentage points. No final decision has been taken before Burnham takes office on 20 July 2026.