There are plenty of solid arguments for Ed Miliband’s outriders to make about why he should be the chancellor when, and of course if, Andy Burnham’s first cabinet is formed. Miliband has been one of Burnham’s most consistent backers, he is one of the most experienced ministers Labour has and he has shown he has the determination to drive through radical policies. There is one great risk, however: would appointing Miliband as chancellor trigger a market meltdown? 

We don’t know much about what a Burnham government might look like. But one thing seems certain. The hapless Rachel Reeves will be dispatched to the backbenches. From Wes Streeting to Yvette Cooper to Pat McFadden or John Healey, a whole list of........

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