Burnham says bond-market warning was a call for economic resilience
In a New Statesman interview, Andy Burnham said the UK remains too exposed to global shocks and defended his call for a more productive state and private investment.
Andy Burnham has stood by his claim that the UK is too exposed to global shocks and bond markets, saying his remarks last year were intended to argue for a more resilient economy, not increased borrowing and spending.
In an interview with the New Statesman, Burnham accused Keir Starmer and Rachel Reeves of taking one line from his comments and framing it around their own interpretation. That allegation has not been independently established in the source account.
Burnham said his approach would centre on “control” and a more streamlined, productive state. He argued that government should create conditions in which businesses are willing to invest, rather than rely on a purely state-led approach.
He also said he would keep the fiscal rules on debt and borrowing while seeking to ease cost-of-living pressure. The comments come amid renewed pressure on public finances: the source reports government borrowing was £18.3bn last month, higher than expected, as energy prices rose.
Burnham also defended his statement that national security should not come at the expense of social security, after Conservative critics said it suggested reluctance to reduce welfare spending to fund defence.
