Top adviser tells businesses to make the case for 'stability' and 'continuity' despite widespread suggestions her boss will be sacked

By Steph Spyro, Deputy political editor and envionment editor

20:40, Wed, Jun 24, 2026 Updated: 20:45, Wed, Jun 24, 2026

Rachel Reeves

Rachel Reeves faces being sacked as Chancellor (Image: Getty)

A top aide of Rachel Reeves has urged some of Britain's biggest companies and trade associations to lobby Andy Burnham to keep her as Chancellor, it has emerged.

Treasury officials called a number of major companies in the insurance, banking, defence and other sectors earlier this week to make the case for "stability" and "continuity" at the Treasury when Sir Keir Starmer leaves office.

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Sources told Sky News said some of the calls took place prior to Sir Keir's resignation statement in Downing Street on Monday.

A number of the UK's biggest business groups are also understood to have been contacted to urge them to make the case for Ms Reeves to Mr Burnham and his team.

A source told Sky News: "The message was clear: keep Rachel as Chancellor, because stability, consistency and continuity are vital at a time like this.

On Wednesday, reports in the Financial Times and other outlets said that Mr Burnham intended to demote Ms Reeves to a more junior cabinet post if he succeeds Sir Keir as prime minister.

The Treasury declined to comment, but a source close to the Chancellor said her team "always talk to business and it is no secret that stability is at the heart of her agenda".

Energy Secretary Ed Miliband is among those being touted to replace Ms Reeves.

Business leaders and some trade unions have begun lobbying for Mr Burnham not to appoint Mr Miliband because of his zeal for the net zero agenda and the widespread perception that his economic policy ideas would make delivering UK growth a much more difficult prospect.