John Healey Appointed Chancellor as Andy Burnham Overhauls UK Cabinet

John Healey has been appointed Britain's new Chancellor of the Exchequer as Prime Minister Andy Burnham announces a major Cabinet reshuffle. Healey, the Rawmarsh and Conisbrough MP who previously served as Defence Secretary under Keir Starmer before resigning over spending disputes, was a surprise choice for the Treasury role, defying expectations that Shabana Mahmood or Wes Streeting would get the post. Former Labour leader Ed Miliband was also considered but was the least popular candidate among City financiers. The appointment comes after Rachel Reeves was ousted as Chancellor, despite signaling her desire to remain. Burnham, who previously served as Chief Secretary to the Treasury under Gordon Brown, is expected to be heavily involved in fiscal policy. The new prime minister has made devolution a central mission, aiming to give more tax and spending powers to regional governments. City bosses and bondholders may find some relief in Healey's appointment, given concerns over Labour's fiscal responsibility.