Burnham defends call for Britain to reduce reliance on bond markets
Prime Minister Andy Burnham reiterated his warning that the UK is overly dependent on bond markets and urged a leaner, more productive state.
Andy Burnham reaffirmed his earlier statement that Britain is "in hock" to bond markets, arguing that excessive borrowing makes the nation exposed to external volatility. He accused Sir Keir Starmer’s team of cherry-picking his words to undermine his challenge to the former Labour leader. While rejecting calls for unchecked spending, Burnham called for a streamlined, productive state and highlighted the need for national resilience, linking it to his upcoming Labour conference speech in Liverpool.
He also pushed back against Conservative leader Kemi Badenoch’s criticism of his stance on defence versus welfare spending. The remarks arrive amid rising UK gilt yields and an IMF warning that the UK must reduce its debt burden.
Why it matters
The Prime Minister's stance on fiscal policy could shape UK borrowing costs and future economic stability.
How this story developed
- Sep 3 Richard Tice condemns Chinese imports while Reform UK merch made in China is on sale
- Sep 4 National Rally leader Jordan Bardella delivered an English speech at Reform UK’s gathering, emphasizing tighter ties with the British party and joint immigration control.
- Sep 4 Reform UK invited Bardella to speak at its Birmingham conference.
- Sep 6 West Midlands Police have issued a call for the protester to come forward to assist their inquiry.
- Sep 7 The memorandum was signed, moving the idea from conference discussion to a formal agreement.
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