The new Labour leader has pledged to revive the country’s industrial heartlands
Britain’s new Prime Minister Andy Burnham delivers his first speech outside 10 Downing Street(Image: Zeynep Demir/Anadolu via Getty Images)
Andy Burnham has pledged to “build a new economy” during his time as Prime Minister, vowing a suite of cost-of-living support measures for households will be unveiled as early as tomorrow.
Speaking on the steps of Downing Street, the new Labour leader said his government would put “life’s essentials back under stronger public control” and breathe new life into the nation’s industrial heartlands. He also restated his backing for the Starmer government’s defence commitments and vowed to bring “the welfare bill down”.
“We will make this moment a circuit breaker for Britain, bringing forward the biggest changes in the last 40 years, a new political model and a new economic model,” Burnham said, adding: “We will take power out of here and carry it into every postcode in the land, so that they can do more, and in doing more, build a new economy where we put life’s essentials back under stronger public control.”
The comments marked the former Manchester mayor’s maiden address as Prime Minister, having been sworn into the nation’s highest office by the King mere moments before delivering his speech.
Sir Keir Starmer formally submitted his resignation earlier on Monday, informing voters that “his work was done” and that it had been the “privilege of [his] life” to serve in Downing Street.
In a break from previous speeches, Burnham chose to forgo a lectern, reiterating his previously declared commitment to redistribute political authority away from Westminster towards local councils and devolved institutions.
The initiative will serve as the cornerstone of a “10-year plan” to introduce a fresh political and economic framework aimed at improving Britain, as reported by City AM.
“Later this year, I will bring forward a new plan for Britain, a 10-year plan,” he said, “laying out a path from where we are now to where I believe we all want Britain to be, wherever we’re coming from, whatever party we support.”
Burnham pledged to give voters “breathing space” with several costed measures to ease the cost of living expected to be unveiled as early as Tuesday.
“We will… build a new economy where we put life’s essentials back under stronger public control to make them affordable to you again, reindustrialising Britain using public procurement to back British industry,” he said.
The renewed outbreak of conflict in the Middle East has left Burnham confronting a challenging economic legacy. The UK’s borrowing costs remained stubbornly high throughout his first morning in Downing Street, after Washington announced two further nights of strikes over the weekend and shipping traffic through the Strait of Hormuz came to a standstill.
The 10-year gilt yield was hovering at just under five per cent by the close of the former Manchester mayor’s address, remaining elevated amid concerns that escalating tensions will further fuel inflationary pressures within the British economy.
The head of Britain’s largest industry body welcomed Burnham’s pledge to unveil a 10-year plan, stating that businesses “thrive on long-term certainty”.
“Our surveys show energy and taxation are squeezing businesses, hitting confidence and investment. Easing the cost of doing business will deliver the growth we all want to see,” Shevaun Haviland, British Chambers of Commerce director general, said.
“Getting growth in ‘every postcode’ of the UK is only possible if business is placed at the heart of the economic strategy,” she added. “Any structural changes to the economy must deliver growth – and that happens when firms invest and expand.”
CBI chief Rain Newton-Smith lent her voice to calls for businesses to play a central role in Burnham’s time in office.
She said: “Ambitious plans to improve the livelihoods of people across the country must be matched by action to get businesses thriving once again.
“Addressing the cost-of-living challenge needs to go hand in hand with tackling the cost of doing business, so we can deliver sustainable growth in jobs, wages and living standards.”
You must be logged in to post a comment Login