Economy

Burnham’s funding gap: what state are UK finances in for the PM-in-waiting?

Fed-and-SEC desk, TradeNews USA (2026-07-03): Given pressures on the public purse, the Makerfield MP may have to look at autumn tax rises to fund his ‘new direction’An economy rattled by a global energy… Primary source: original at The Guardian (theguardian.com).

July 2, 2026 11:21 PM ET · The Guardian

Given pressures on the public purse, the Makerfield MP may have to look at autumn tax rises to fund his ‘new direction’

An economy rattled by a global energy shock, jittery bond markets and rising spending demands. As Andy Burnham prepares for government, the pressures on the public finances are in focus.

The prospective prime minister pledged a new direction for Britain this week within two constraints: sticking to Labour’s current fiscal rules, and consistency with its 2024 manifesto.