UK's prime minister-in-waiting to outline economic agenda

Andy Burnham, the leading contender to succeed Keir Starmer as Britain's prime minister, is scheduled to unveil his economic agenda today. This announcement marks his first major policy statement since Starmer's resignation last week. Burnham is currently the only candidate in the running and could potentially assume the premiership as early as mid-July if he faces no challengers.

During his recent campaign to become a Member of Parliament, Burnham maintained a degree of ambiguity regarding his economic policies, particularly concerning any potential shift of the Labour Party towards the left. His anticipated speech, to be delivered in his Manchester stronghold, is expected to outline his economic strategy and signal his readiness to lead the nation after a decade outside of Westminster.

Burnham, often described as a "soft left" pro-business socialist, has aimed to reassure financial markets by committing to the current government's borrowing limits. Government minister Steve Reed indicated that while some policy discussions might occur, Burnham is dedicated to the manifesto that secured Labour a significant majority in the general election two years prior.

“

The central proposal is the biggest transfer of power out of Whitehall in modern times, with decision-making pushed to regions and local communities.

A consistent theme in Burnham's career, both as mayor of Greater Manchester and now as prime minister-in-waiting, has been devolution, empowering local authorities. His press office stated that the speech's core proposal involves "the biggest transfer of power out of Whitehall in modern times," advocating for decision-making to be pushed to regional and local communities. This initiative aims to replace a centralized, top-down model with one focused on locally driven economic growth.

Burnham plans to establish a "No 10 North" to oversee this devolution, a nod to the Prime Minister's official residence at 10 Downing Street. His ally, Labour Deputy Leader Lucy Powell, emphasized that Burnham desires to see communities across Britain empowered to "seize their own agenda." Burnham has also expressed a preference for greater "public control" over essential services such as transport, water, and energy. He has positioned himself as a supporter of small businesses, proposing tax rate reductions for pubs and music venues.

“

Andy wants to see that right round the country - communities in every part of Britain being able to seize their own agenda.