Ed Miliband as chancellor would benefit every part of the UK – and the bond markets | Josh Ryan-Collins

If Andy Burnham chooses the energy secretary, Labour could fully use the benefits of net zero to promote growth and jobs

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.

Josh Ryan-Collins is professor of economics and finance at the UCL Institute for Innovation and Public Purpose