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Burnham must be upfront about tax or risk spooking the bond markets | Heather Stewart

The Guardian UK Sunday 21 June 2026, 10:04 UTC By Heather Stewart 1 min read
Key Points

Victory in Makerfield is propelling him towards No 10 but investors expect to know how he will fund his promisesBurnham allies confident of ‘coronation’Andy Burnham’s thumping victory in the Makerfield byelection came and went without the bond market rout Rachel Reeves’s backers had warned about. But as he moves towards the premiership, Burnham would be wise to set clear expectations about tax and spend, and to be upfront about the fact that not everyone can be a winner.

Victory in Makerfield is propelling him towards No 10 but investors expect to know how he will fund his promises

Andy Burnham’s thumping victory in the Makerfield byelection came and went without the bond market rout Rachel Reeves’s backers had warned about.

But as he moves towards the premiership, Burnham would be wise to set clear expectations about tax and spend, and to be upfront about the fact that not everyone can be a winner.

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Burnham (PERSON) Heather Stewart Victory (PERSON) Makerfield (PERSON) Rachel Reeves’s (PERSON)
Originally published by The Guardian UK Read original →

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