Andy Burnham will face a crucial choice for the chancellor as he fights for number 11

The battle for number 10 is over.

An overwhelming majority of Labor MPs have nominated Andy Burnham. According to the labor law, it needs the support of a trade union.

Today he crossed that threshold. It goes to number 10 on Monday.

But the under-the-radar battle for Number 11 Downing St continues. Whoever Burnham appoints as chancellor – and next door neighbor in Downing Street – will send a signal to politicians and the bond markets of his intentions.

Burnham’s official line is that no decision has been made.

No announcements on cabinet positions are expected until Monday, when Burnham moves into No.10.

Discussions have been taking place among tight-lipped figures – including Labour’s James Purnell, Louise Haig and Burnham’s former MP, Josh Simmons, in the next number 10.

When Burnham wins the Mackerfield by-election, widely regarded Energy Secretary Ed Miliband moves to the Treasury.

But there have been noisy and subtle attempts to influence Burnham’s choice as chancellor – from workers in the oil and gas industry and unions who trust Miliband’s instincts to Sir Keir Starmer’s unpaid ‘cost of living’ Iceland boss Lord Walker.

He runs supermarkets, but argues that it is the bond markets that will “shock” him if an “ideological” chancellor is installed in the Treasury.

In recent days, a number of MPs close to Burnham – who have no sympathy for the energy secretary – believe Miliband’s chances of being appointed are slim.

The caveat is that they are not making decisions, but sensing the feelings.

Those close to Miliband still believe his appointment is not only possible but highly desirable.

They point to the testimony. He has an economics background, was an adviser in the Treasury under Gordon Brown and chaired the Council of Economic Advisers.

He has experience as a minister in the previous Labor government and this one. He knows the way. A colleague said: “He can make the Treasury do what it doesn’t want.”

Miliband has advised Burnham regularly and recently, and stands with Burnham in the task of promoting progress, in Burnham’s words, “for every postcode”.

As for the bond markets, one supporter emphasized that he followed the fiscal rules on debt and credit, while another painted it as “not Che Guevara.”

Many in the parliamentary party expect him to move to No 11, but if not, some on the left of the party think Burnham has rejected the first hurdle in the race to change Britain.