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The Guardian - UK
The Guardian - UK
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Josh Ryan-Collins

Ed Miliband as chancellor would benefit every part of the UK – and the bond markets

Ed Miliband speaks at the National Growth Debate at the Institute of Directors in London on 21 April 2026.
Ed Miliband speaks at the National Growth Debate at the Institute of Directors in London on 21 April 2026. Photograph: Stefan Rousseau/PA

It should have been a great week for Ed Miliband and his mission to decarbonise the UK economy. Western Europe has experienced one of its worst ever heatwaves, providing powerful evidence of the need to transition away from fossil-fuel-driven energy production to reduce the carbon emissions that are contributing to global heating.

Instead, however, he has been attacked by an unholy alliance of trade unions and leading City figures, apparently determined to prevent him becoming chancellor in the cabinet of the presumptive new prime minister, Andy Burnham.

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