--- title: "Who could be the UK's next chancellor?" description: "Keir Starmer's resignation as prime minister has thrown the future of his chancellor, Rachel Reeves, into question, with commentators already weighing who could run the Treasury under his likely successor. Any change is speculative: a new prime minister is free to keep Reeves, and no appointment can be made until Labour chooses a new leader." category: "Politics" category_url: https://newsparlor.com/category/politics author: "Thomas Berger" published: 2026-06-23T13:33:00.000Z updated: 2026-06-23T13:33:00.000Z canonical: https://newsparlor.com/article/who-could-be-the-uk-s-next-chancellor tags: ["United Kingdom", "Rachel Reeves", "chancellor", "Labour Party", "Treasury", "Andy Burnham"] --- # Who could be the UK's next chancellor? Keir Starmer's resignation as prime minister has thrown the future of his chancellor, Rachel Reeves, into question, with commentators already weighing who could run the Treasury under his likely successor. Any change is speculative: a new prime minister is free to keep Reeves, and no appointment can be made until Labour chooses a new leader. The question of who runs Britain's Treasury has suddenly become live. Sir Keir Starmer's [resignation as prime minister](https://www.cnn.com/2026/06/22/world/live-news/keir-starmer-uk-pm) on Sunday means his entire cabinet — including Chancellor Rachel Reeves — serves only until a new Labour leader is chosen and decides who to keep. What follows is necessarily speculative: no incoming prime minister has named a chancellor, and none can until the leadership contest concludes. ## Why the job is in play Because the chancellor serves at the prime minister's pleasure, a change at the top automatically raises questions about who occupies 11 Downing Street next. Starmer said he would ask Labour to open nominations on July 9, with the contest finished before the summer recess, according to CNN. Former Greater Manchester mayor Andy Burnham has confirmed he will run and is widely described as the frontrunner, [Al Jazeera](https://www.aljazeera.com/news/2026/6/22/why-has-keir-starmer-resigned-as-uk-prime-minister-and-who-will-take-over) reported — and much of the chancellor speculation flows from who he might appoint. ## Could Rachel Reeves stay? The simplest outcome is continuity. A new prime minister is under no obligation to move Reeves, who became the UK's first female chancellor after Labour's 2024 election win. Commentators note that keeping her could reassure financial markets and signal policy stability, [Yahoo News UK](https://uk.news.yahoo.com/could-replace-rachel-reeves-chancellor-091310616.html) reported. But her position is far from secure. Reeves's poll standing weakened over her time in office, and analysts widely expect a new leader — particularly one from a different wing of the party — to want their own appointee at the Treasury. Whether she stays may hinge on who wins and on how much they want to break with the outgoing government's economic approach. ## The names being floated All of the following are named in commentary, not by any incoming prime minister, and should be read as speculation rather than reporting of a decision. **Wes Streeting**, the former health secretary, has been positioned by some analysts as a contender, partly on the argument that backing Burnham early could strengthen his claim to a top job. **Ed Miliband**, the energy secretary and former Labour leader, is cited as having close ties to Burnham, though some commentators caution that his appointment could unsettle markets. **Darren Jones**, the chief secretary to the Treasury, is described as a rising figure but is seen by some as too closely associated with Reeves's existing policies. Other names raised include **Torsten Bell**, a Treasury minister and former head of the Resolution Foundation think tank, alongside senior figures such as **Yvette Cooper** and former shadow chancellor **Anneliese Dodds**, according to Yahoo News UK. None has been confirmed for the role. ## What happens next Nothing is settled. The chancellorship will not be decided until Labour members choose Starmer's successor, and the eventual winner could opt for continuity or a clean break. Until then, every name in circulation reflects analysis and party speculation rather than a confirmed decision — and the Treasury's direction will depend on a leadership race that has only just begun. ## Sources - [Why has Keir Starmer resigned as UK prime minister, and who will take over?](https://www.aljazeera.com/news/2026/6/22/why-has-keir-starmer-resigned-as-uk-prime-minister-and-who-will-take-over) - [Who could replace Rachel Reeves as Chancellor?](https://uk.news.yahoo.com/could-replace-rachel-reeves-chancellor-091310616.html) - [Keir Starmer resignation live updates](https://www.cnn.com/2026/06/22/world/live-news/keir-starmer-uk-pm)