\n<\/p>\n
Miliband is the bookmakers’ second favourite pick, with the former Labour party leader politically closer to Burnham than Streeting.<\/p>\n
Paul Johnson, former director of think-tank the Institute for Fiscal Studies, sees this as a positive.<\/p>\n
“You really don’t want people in Number 10 and Number 11 having very different views,” he says.<\/p>\n
However, opinions differ on whether former Treasury adviser Miliband could rally the markets. <\/p>\n
Nick Macpherson, the former permanent secretary at the Treasury, told the Financial Times: “The key to gaining the confidence of the markets is to articulate, implement and deliver a coherent strategy. <\/p>\n
“Miliband is one of the few cabinet members with the intellect, experience, and authority to do that.”<\/p>\n
Yet, others see Miliband as an inflation risk, believing his drive for net zero as energy secretary as partly responsible for the UK’s high energy prices compared to other countries.<\/p>\n
Analysts say that reputation, whether accurate or not, could affect how bond markets react to his time as chancellor.<\/p>\n
Meanwhile, the Unite union’s general secretary Sharon Graham says Miliband as chancellor would be a “noose around the neck” of job creation, external<\/span><\/a> because of his opposition to new oil and gas drilling in the North Sea.<\/p>\n<\/div>\n