Burnham Names John Healey Finance Minister

Britain’s new Prime Minister Andy Burnham appointed former Defence Secretary John Healey as finance minister on Monday, sacking Rachel Reeves from the position.

Burnham, who assumed office promising economic stability and action on homelessness, selected the Labour Party veteran to manage the Treasury and revive the country’s sluggish economy.

Healey takes over the Treasury after resigning as defence secretary last month in protest over government defence spending.

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In his new role, he must navigate strict fiscal rules governing public spending while finding £4.7 billion ($6.3 billion) over the next four years to address funding gaps in national defence commitments.

Financial markets reacted with slight unease ahead of the appointment after Burnham suggested potential flexibility within the government’s balanced-budget rules.

Healey (News Central TV) — Burnham names John Healey finance minister. Credit: Reuters

Healey, a veteran parliamentarian first elected in 1997, previously held junior Treasury positions under Tony Blair, along with local government, housing, and health portfolios.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.