Burnham Names Ex-Defense Chief Healey to Serve as UK Chancellor

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessBurnham Names Ex-Defense Chief Healey to Serve as UK ChancellorBritain’s new prime minister, Andy Burnham, named former Defense Secretary John Healey to be his chancellor of the exchequer in a surprise move that will fuel speculation about a bigger increase in military spending.Author of the article:Philip Aldrick, Alex Wickham and Ellen Milligan You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Britain’s new prime minister, Andy Burnham, named former Defense Secretary John Healey to be his chancellor of the exchequer in a surprise move that will fuel speculation about a bigger increase in military spending. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountWhile Healey served as a junior Treasury minister between 2002 and 2007, his appointment to the second-most important post in government upended expectations in Westminster. As late as 2 p.m., the Polymarket prediction market showed a 92% chance of Home Secretary Shabana Mahmood getting the job. Former Energy Secretary Ed Miliband was considered her main rival. Miliband was named foreign secretary while Mahmood will remain in the Home Office. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe chancellor move comes weeks after Healey quit ex-Prime Minister Keir Starmer’s government in a dispute with the then-chancellor, Rachel Reeves, over her reluctance to increase defense spending. Healey will be seen as unlikely to have accepted the chancellorship without a commitment from Burnham to spend more money on defense. An official at No. 10 Downing St. said Burnham wanted an experienced and trusted figure to steward the economy. They said Healey would maintain economic stability and the current fiscal rules, but back new policies on reindustrialization, devolution and the cost of living.Healey was economic secretary to the treasury and financial secretary to the treasury under previous Labour governments. The move reflects what people close to Burnham describe as his desire for a chancellor who will deliver his agenda. (Updates with Miliband, Mahmood appointments in third paragraph.)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.