Andy Burnham's Manchesterism: A New Economic Vision for Britain

Andy Burnham, Mayor of Manchester and Labour Party leader rival, presents his economic vision aimed at calming bond investors. He proposes public control over key services and strategic investment in housing and utilities to reduce state costs and stimulate growth through 'Manchesterism.'

Andy Burnham, a key figure in Britain's Labour Party and a rival to Prime Minister Keir Starmer, outlined his economic vision on Tuesday, aimed at providing reassurance to bond investors.

Burnham, who serves as the mayor of Manchester, advocates for the public control of key services to cut long-term state costs, citing past deregulation, privatisation, austerity measures, and Brexit as weakening public financial control. His 'Manchesterism' approach seeks economic reforms to address Britain's stagnant growth.

He highlights that strategic investment in housing and utilities, coupled with collaborative planning, could reduce waste and stimulate growth. Despite Labour lagging in polls, Burnham's vision could signal a shift towards looser budgets, reflecting a divergence from Starmer's leadership while maintaining a contentious relationship with the current government.

(With inputs from agencies.)