Four charts revealing scale of Andy Burnham’s economic challenge July 21, 2026 Andy Burnham has harboured ambitions to be Prime Minister for over a decade. But the economy he is inheriting will take the shine off his lofty hopes – just look at these four charts. As he stepped out onto Downing Street for the first time as Prime Minster, Andy Burnham allowed himself to break out [...]
As it happened: Stocks rally as defence shares surge on John Healey as Chancellor July 21, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday and the markets have been adjusting to the first full day of Andy Burnham’s Labour government. Burnham shocked Westminster and the City on Monday evening when he appointed John Healey as his Chancellor, just weeks after he had resigned in protest as defence secretary. [...]
Three ways Andy Burnham can avoid Keir Starmer’s mistakes July 21, 2026 The Notebook, where the City’s movers and shakers have their say. Today Michael Martins shares his tips for the new cabinet and explains why he’s become obsessed with unhinged neighbours As you walk into No. 10 today, you are about to inherit all of former PM Starmer’s problems and none of his excuses, so take [...]
The water industry needs investment, not confiscation July 21, 2026 Renationalising Thames Water will deter the investment Britain needs to grow, says Lord Johnson Andy Burnham enters Downing Street with lofty, and in many ways admirable, ambitions to generate prosperity in the regions. But his plans will come to naught if he cannot first find economic growth – and the outlook is bleak. The IMF [...]
Andy Burnham should start by scrapping the £100k tax trap July 21, 2026 Cutting taxes is expensive, but there is a way Andy Burnham could make them simpler and fairer, says Helen Thomas Andy Burnham’s first interview as Labour’s presumptive Prime Minister contained a somewhat unlikely observation. Speaking to the Sunday Times, he said one issue repeatedly raised on the doorstep was the frozen £12,570 personal allowance. It [...]
Dimon threatens to ditch JP Morgan tower in tax warning to Burnham July 21, 2026 The boss of JP Morgan has refused to commit to the future of the bank’s planned £10bn tower in Canary Wharf as he warned Andy Burnham’s new government against penalising the banking sector with a raft of new taxes. Jamie Dimon, the chief executive of the US financial behemoth, said he hoped that London would [...]
Wealthy Brits fear Burnham tax consequences July 20, 2026 Wealthy Brits are bracing for a major shake-up of the tax system, as the UK’s new prime minister looks for ways to fund fresh spending commitments. Prior to taking office, Andy Burnham had already hinted at plans over how the country should be taxed. The Makerfield MP has so far refused to rule out a [...]
Borrowing costs jump after Burnham ‘fiscal flexibility’ remarks July 20, 2026 The government’s borrowing costs climbed sharply on Monday afternoon after Andy Burnham said he planned to juice government borrowing by taking advantage of “flexibility” in the current fiscal rules. The new Prime Minister told reporters that his administration would use all potential room within the self-imposed spending straitjacket, which he had promised not to loosen [...]
Burnham’s Thatcherism jibes are just tired socialist talking points July 20, 2026 Oasis caution against looking back in anger, yet the narrative Manchester’s other favourite son rehearsed in his first speech as Prime Minister was based on hackneyed old grievances, says Alys Denby Here we go again. Britain has gone through as many prime ministers in the last 10 years as it did in the previous 37 [...]
Burnham risks ‘big mistake’ on AI with tech department shake-up July 20, 2026 Andy Burnham has been warned that breaking up the government department behind Britain’s artificial intelligence strategy could unsettle global investors and damage the country’s standing as a technology hub. The incoming prime minister is reportedly considering abolishing the Department for Science, Innovation and Technology (DSIT) and splitting its responsibilities between the Department for Business and [...]