Burnham to Reject Any Change to UK Fiscal Rules If He Wins (3)

Andy Burnham, the current favorite to replace Keir Starmer as UK prime minister, ruled out changing the government’s limits on borrowing if he were to gain power, in a bid to reassure investors about his fiscal plans.

A spokesperson for the Greater Manchester mayor told Bloomberg on Monday that he wouldn’t make any changes to current Chancellor of the Exchequer Rachel Reeves’ fiscal rules if he were to enter 10 Downing St. after any leadership election later this year. Crucially, the spokesperson also ruled out exempting defense spending from the constraints.

UK bonds extended earlier gains on Monday, with ...