Dubbed the “King of the North,” Andy Burnham became the United Kingdom’s seventh prime minister in a decade on Monday, following the resignation of Keir Starmer.
For gilt investors and pound traders, attention will turn to whether the new government can deliver Burnham’s more interventionist economic agenda while maintaining control over public borrowing and spending.
“We will make this moment a circuit breaker for Britain, bringing forward a new political model and a new economic model,” Burnham said in his first speech as prime minister.
He pledged to build an economy that places essential services under stronger public control, while using public procurement to support British industry and accelerate the country’s reindustrialisation. He argued that Britain’s current problems were partly the result of decades in which economic power was transferred to the private sector.
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