Speculation is rife about who could succeed Rachel Reeves as Chancellor, as Andy Burnham heads towards Number 10.

Wes Streeting, Ed Miliband, Pat McFadden and Yvette Cooper have all been linked with the role, but their positions on property taxation, wealth and Capital Gains Tax differ significantly.

The candidates

Ed Miliband is currently regarded as a frontrunner for the Treasury role. He has previously backed a Mansion Tax on homes worth more than £2million and is one of the more radical candidates, having long been associated with wealth redistribution policies.

His appointment, however, would not be universally popular. A recent report in The Telegraph claims a group of Labour MPs have warned Burnham that he could unsettle the financial markets.

Wes Streeting is also considered a leading contender. The Blairite Health Secretary has called for a “wealth tax that works” by aligning Capital Gains Tax with income tax rates.

He has also argued that income from investments should not be taxed more favourably than earnings from work, which could increase tax bills for some landlords and second-home owners when selling assets.

Yvette Cooper is one of Labour’s most experienced economic figures, having served as Chief Secretary to the Treasury under Gordon Brown. She has supported a more progressive tax system and has not previously backed Mansion or Land Value taxes, nor any major changes to Capital Gains Tax.

Pat McFadden is regarded as a safe pair of hands and one of Labour’s more business-friendly figures. The Work and Pensions Secretary has previously complained that political debate too often centres on finding new groups to tax in order to fund higher spending.

One of the biggest influences over tax policy, however, is likely to be Andy Burnham. The Prime Minister-designate has repeatedly argued that Britain “overtaxes labour” and “undertaxes wealth”.

He has backed exploring a Land Value Tax, describing it as “a very productive form of taxation”, although he has also previously criticised Labour’s Mansion Tax proposals, saying they gave the impression the party was against people who had succeeded financially.