Shabana Mahmood predicted to succeed Rachel Reeves as chancellor

Mahmood is now the favourite to succeed Rachel Reeves, the UK's first female chancellor, whose future in Number 11 had been in doubt since Keir Starmer's resignation last month, according to reports by the FT. Cabinet roles will be assigned on Monday (20 July), after Burnham officially becomes prime minister. Reeves also gave what would be her last Mansion House speech on Tuesday (14 July), emphasising the economic achievements over the last two years as well as putting a spotlight on the streamlining of financial services regulation. The Treasury declined to comment and Burnham's ...