Burnham pressed on economy at first PMQs as UK borrowing costs rise
Summary
Prime Minister Andy Burnham faced questions from Conservative leader Kemi Badenoch about the UK's rising borrowing costs and government spending during his first Prime Minister's Questions (PMQs). Burnham blamed the previous Conservative government for financial problems and promised fiscal responsibility while announcing an upcoming Budget in October.Key Facts
- UK borrowing costs reached an 18-year high, causing concern about government debt.
- Kemi Badenoch asked Burnham where government spending would be cut to manage rising debt.
- Burnham became Prime Minister in July and used the summer recess to introduce policies to ease the cost of living.
- Burnham said he has already cut some taxes, like VAT on energy bills and business rates for hospitality.
- Burnham and Chancellor John Healey plan to hold a Budget in October to explain financial plans.
- Economist Lord Jim O’Neill praised Burnham’s early work but warned about market concerns over government debt.
- Rising interest on government bonds means it costs more for the UK to borrow money.
- Burnham said his government will follow fiscal rules to reduce debt while helping with cost-of-living issues.
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