Should Rachel Reeves resign? The runners and riders to replace Keir Starmer’s teary Chancellor
Rachel Reeves’s tearful appearance at Prime Minister’s Question has sparked rampant speculation about who could possibly replace her as Chancellor.
Sir Keir Starmer last night insisted that Reeves will remain Chancellor “for a very long time to come”, adding: “This project that we have been working on to change the Labour Party, win the election and change the country, that is a project which the Chancellor and I have been working on together.”
However, the Chancellor is facing fury from backbench Labour MPs over her commitment to tighten Britain’s purse-strings.
Reeves is also becoming increasingly unpopular among grassroots Labour members, with over half now wanting the Chancellor to get the sack.
And, even before yesterday’s tears, Reeves was facing a tough time in Westminster.
A series of U-turns increased the fiscal black hole Reeves must fill at her next budget to an eyewatering £40billion – with manifesto commitments against hiking income tax, national insurance or VAT also forcing No11 to consider alternative cash-raising measures, such as spending cuts and increased borrowing.
Meanwhile, the markets have taken a hit amid speculation of the Chancellor’s potential departure, with sterling tumbling against the dollar and euro, while borrowing costs teeter towards levels not seen since Liz Truss.
So, who is in the running to potentially succeed Reeves in No11?
Rachel Reeves was seen crying in ParliamentGBNEWS
Pat McFadden
Pat McFadden has warned Britons of ‘financial consequences’ in wake of the benefits bill rowGB News
Age: 60
Position: Chancellor of the Duchy of Lancaster
Bookies’ odds: 1/1
Majority: 9,188 votes over Reform UK in Wolverhampton South East
Darren Jones
Chief Secretary to the Treasury Darren Jones
PA
Age: 38
Position: Chief Secretary to the Treasury
Bookies’ odds: 13/2
Majority: 15,669 votes over the Green Party in Bristol North West
Wes Streeting
Wes StreetingGetty
Age: 42
Position: Health Secretary
Bookies’ odds: 8/1
Majority: 528 votes over pro-Gaza independent candidate
Yvette Cooper
Yvette Cooper
Getty
Age: 56
Position: Home Secretary
Bookies’ odds: 12/1
Majority: 6,630 votes over Reform UK in Pontefract, Castleford & Knottingley
Ed Miliband
Ed Miliband
PA
Age: 55
Position: Net Zero Secretary (and ex-Labour leader)
Bookies’ odds: 22/1
Majority: 9,126 votes over the Tories in Doncaster North
Torsten Bell
Pensions Minister Torsten Bell speaking about the universal winter fuel payment before the Work and Pensions Committee
PA
Age: 42
Position: Pensions Minister
Bookies’ odds: 6/1
Majority: 8,515 votes over Reform UK in Swansea West