Thames Water creditors offer government ‘golden share’ to fend off nationalisation July 21, 2026 The group of creditors vying to take control of Thames Water has said it is willing to grant the government a “golden share” in the company and offer local governments oversight of its operations as it looks to fend off nationalisation by Andy Burnham. In a statement today, London & Valley Water (L&VW), a group [...]
Babcock and Rolls-Royce stocks rally after Healey appointment July 21, 2026 Defence stocks including Rolls-Royce have stormed to new highs as investors added to bets that the new Chancellor John Healey would plough further cash into London-listed arms companies. Defence supply giants Babcock and BAE Systems were among the biggest risers when markets opened on Tuesday, some 12 hours after former defence secretary Healey was appointed [...]
Rachel Reeves’ sister takes top legal role in Burnham’s Cabinet overhaul July 21, 2026 Prime Minister Andy Burnham has picked Ellie Reeves, the sister of former Chancellor Rachel, to serve as the chief legal adviser to the government. Lord Richard Hermer KC, a close ally of Keir Starmer who played a pivotal role in shaping the legal and international stance of Starmer’s government, was dismissed as attorney general and [...]
Unfunded Digital ID will not free up new cash for Burnham’s cost of living plans July 21, 2026 Andy Burnham is facing criticism from his own backbenches after claiming he would fund his cost of living plans by scrapping Labour’s digital ID scheme – despite the policy being unfunded at the last budget. In his first major policy announcement as prime minister, Burnham revealed today he would remove VAT from domestic electricity bills [...]
Warning for John Healey as key fiscal target missed July 21, 2026 A key fiscal target has been missed on John Healey’s first morning as Chancellor, in a reminder of the poor state of public finances. Official data on Tuesday showed that the current budget deficit, which is critical to the current fiscal rules, surpassed forecasts set by the Office for Budget Responsibility (OBR). The Office for [...]
Burnham premiership begins with decline in job postings July 21, 2026 Andy Burnham’s premiership has kicked off with disconcerting news for job seekers, setting up new government ministers for a difficult few months in supporting the UK labour market. The Office for National Statistics revealed that the number of vacancies fell by 7,000 between April and June, with the biggest falls coming in areas such as [...]
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 [...]
John Healey becomes Chancellor as Andy Burnham names top Cabinet appointments July 20, 2026 John Healey has been appointed Britain’s new Chancellor as Andy Burnham unveils a major shake-up of key Cabinet roles. The Rawmarsh and Conisbrough MP, who had served as defence secretary under Keir Starmer before resigning earlier this year amid a spat over spending commitments, marks a surprise appointment for the top Treasury role, defying Westminster [...]
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 [...]
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 [...]