What the New UK Chancellor Means for the UK Economy by Mohamed A. El-Erian
By appointing John Healey as chancellor of the exchequer, British Prime Minister Andy Burnham has taken a calculated risk. If Healey can leverage his insider knowledge of the Treasury, pursue a bold, pro-growth agenda, and manage his defense-spending instincts, he may be able to provide the structural shake-up the UK economy needs.
NEW YORK—The United Kingdom’s new prime minister, Andy Burnham, is already sending shockwaves through Westminster. Defying almost every political forecast and market expectation, he has named John Healey, a former defense secretary, as the new chancellor of the exchequer.
