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The Economic Times

Global Business / The Economic Times

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Former defence minister Healey named as new UK finance minister

John Healey, a former defence minister, has been appointed finance minister by new Prime Minister Andy Burnham. Healey previously served as a junior minister in the Treasury department under Gordon Brown. He had advocated for increased defence spending, which contributed to Starmer's departure. Analysts reacted positively to Healey's appointment, noting his Treasury experience. This move suggests Burnham respects market checks on his policy initiatives.

20 Jul 2026 11:30 pm