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Andy Burnham is expected to sack Rachel Reeves as Chancellor as part of his preparations for power.
The Makerfield MP is set to deliver a major policy speech next week in a bid to reassure the markets and hype up his credentials on the economy.
Mr Burnham, The Times revealed, will pledge to grow the economy and commit to Labour’s budget rules amid concern in the markets about his looming move to No10.
He will also pledge to reduce the national debt and the cost of borrowing in what’s been billed as his “credible” growth plan.
Talks over who may sit at Mr Burnham’s Cabinet table are underway – with Ms Reeves potentially replaced by one of Wes Streeting, Ed Miliband and Shabana Mahmood.
However, Mr Burnham’s allies insist no jobs had been given and no deals had been made as of Monday evening.
Right now, Labour’s newest MP looks like he’ll have an unopposed run at No10 – but Darren Jones, a close ally of Sir Keir Starmer, is said to be sniffing out the prospect of whether he could find 81 MPs to back him and trigger a contest.
A source close to Mr Jones told The Times he was “not minded to run, but will want assurances on economic and national security policy before signing up to a coronation”.
