Kemi Badenoch warns of ‘Burnham premium’ on mortgages May 17, 2026 Kemi Badenoch has warned that Andy Burnham would saddle the UK with a “Burnham premium” on mortgages and borrowing costs as Labour’s leadership crisis continues following the mayor’s planned return to Westminster. The Conservative leader seized on mounting speculation around Burnham’s ambitions after the Makerfield by-election became the latest flashpoint in Labour’s increasingly public civil [...]
Andy Burnham plots Westminster return warning Labour has ‘let people down’ May 17, 2026 Andy Burnham has moved a step closer towards a return to Westminster after confirming that winning the forthcoming Makerfield by-election would be the “first stage” in a wider bid to reshape Labour. The Greater Manchester mayor has repeatedly distanced himself from Sir Keir Starmer’s government, criticised Britain’s economic direction over the past 40 years and [...]
UK government at risk of grinding ‘to a halt’ amid leadership race drama May 16, 2026 Ministers and senior civil servants have warned that sections of the UK government are at risk of hitting a standstill amid the growing likelihood of a Labour leadership contest. Government figures have expressed concern a contest could overshadow Starmer’s agenda and key initiatives, including the push for closer UK relations with the EU. Worries have [...]
Burnham return attempt ushers new borrowing cost record May 15, 2026 Manchester mayor Andy Burnham’s attempt to return to parliament has alarmed traders as gilt yields reached another 28-year high, beating last week’s high. Burnham overcame the first hurdle on his path towards becoming Prime Minister after Josh Simons, the MP for Makerfield, announced he would resign on Thursday night to let the Manchester mayor try [...]
What does new City minister Rachel Blake have in store for the Square Mile? May 15, 2026 The Westminster drama has hit the City in more ways than one. After Wes Streeting’s resignation triggered a mini-reshuffle, Felix Armstrong and Samuel Norman take a look at what the new City minister might have in store. In just under two years, the City has its fourth minister. Tulip Siddiq resigned in January 2025 after [...]
As it happened: UK borrowing costs rattled by Burnham’s Parliament bid May 15, 2026 Welcome back to the City AM liveblog. Andy Burnham has made his move – and it has left markets on edge. On Thursday evening, after markets had closed, a Labour MP sensationally announced their intention to stand aside to allow Burnham to make his way back into Parliament. And this morning it’s left gilt yields [...]
As it happened: Markets on high alert as Streeting calls on Starmer to resign May 14, 2026 Welcome back to the City AM liveblog. The past few days of political drama have to come to a head today and UK assets are bracing for a showdown. All eyes were on the bond market after Wes Streeting resigned as health secretary and called for a leadership contest. Gilt yields see-sawed yesterday as Sir [...]
Andy Burnham confirms Westminster run as Wes Streeting resigns from government May 14, 2026 Andy Burnham has declared his intention to stand in a by-election after a sitting Labour MP quit to make way for him. The current Mayor of Manchester will seek permission from Labour’s ruling body to stand in the Makerfield constituency after Josh Simons announced he would vacate the seat. In a statement, Burnham said: “Millions [...]
Reeves sends Labour MPs warning over bond market wrath May 14, 2026 Chancellor Rachel Reeves has sent anxious Labour backbenchers a stark warning on the wrath of bond markets in a bold intervention. After walking into Downing Street on Thursday morning, the Chancellor told the BBC that leadership battles risked “plunging the country into chaos”. She demanded that backbenchers maintained support for the Prime Minister as she [...]
Rayner says she has been cleared by HMRC in fresh Labour leader twist May 14, 2026 Angela Rayner has said she was cleared by HMRC of deliberate wrongdoing or carelessness over her tax affairs, which is set to shake up a divided Labour Party just as Sir Keir Starmer‘s leadership seemed poised to fall apart. Rayner said that she settled a case of unpaid stamp duty and added that she had been [...]