00:00Andy Burnham looks like he's heading to Downing Street to replace Keir Starmer,
00:03perhaps as early as next month. So what would a Burnham Premiership mean for the UK economy?
00:08It could be third time lucky for the former Manchester Mayor who's twice tried and failed
00:12to become Labour Party leader. But we still know relatively little about what his policy
00:16plans in office could be. For the bond markets in particular, his choice of Chancellor could
00:21be almost as important as the occupant of number 10. Burnham oversaw a success story in Manchester,
00:26where, through a combination of devolution and private investment, the city bucked the national
00:31trend of sluggish economic growth. But in Westminster, he's been courting the left of the Labour Party
00:36and been a champion of higher public spending and possible taxes on wealth. Factoring Burnham's
00:42apparent dismissal of the bond markets, remarks he later rode back on, and many speculate he could
00:47oversee a rise in borrowing at a national level. Burnham himself has sought to offer reassurance
00:52by suggesting he has no intention of ripping up the fiscal rules and moving to surround himself
00:57with authoritative economic advisers. But some of those advising him have been on the record in
01:03the past arguing that the tax and spend rules implemented by current Chancellor Rachel Reeves
01:08are counterproductive. And much of the nervousness about this likely Burnham Premiership comes from
01:14the fact that we simply have very little idea as to what his policy priorities will actually be.
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