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The Guardian Politics21 Jul 2026

Andy Burnham promised urgent action on the cost of living; the heat is now on chancellor John Healey to deliver it | Alfie Stirling

The PM and the new boss at the Treasury face an even trickier task than their predecessors. They need a good plan, and we have one Alfie Stirling is an economist and director of policy at the Joseph Rowntree Foundation As Keir Starmer found, it takes more than words alone to warm a tepid bath. Voters reserve the greatest punishment for the politicians they think acted too little, or too late, to prevent them getting poorer. For Andy Burnham, much will now depend on whether he has got the right

EconomyDefence
The Guardian Politics21 Jul 2026

Burnham cuts VAT on electricity bills in first major policy announcement – UK politics live

Move is expected to save households around £45 a year in effort to tackle cost of living Burnham to cut VAT on electricity bills in first cost-of-living move The newly appointed business secretary, Jonathan Reynolds, has defended the policy, declaring the cut to VAT on electricity bills “a statement of priorities”. Responding to Darren Jones’s claim that the cut remained unfunded, Reynolds told Radio 4’s Today programme: They are part of the government’s pressure, it is a legitimate decision to

PoliticsEconomy
The Guardian Politics21 Jul 2026

JP Morgan boss warns of ‘consequences’ if Burnham taxes banks

Higher taxes on sector could threaten plan for £3bn headquarters in London, says Jamie Dimon Business live – latest updates The boss of JP Morgan, Jamie Dimon, has warned Andy Burnham against raising tax charges on banks, suggesting it could threaten plans to build its £3bn headquarters in London and drive investment away from Britain. The chief executive of the world’s biggest bank, who has a track record of criticising the UK’s bank tax surcharge, does not want to see the UK’s new prime mini

EconomyDefence
The Guardian Politics21 Jul 2026

UK employers cut job vacancies as Burnham aims to lift living standards

Unemployment holds steady at 4.9%, underlining the challenge facing the new prime minister Business live – latest updates Employers cut the number of job vacancies in May, according to official figures that highlight the UK’s “fragile” economic outlook amid the conflict in the Middle East. Job vacancies fell to 712,000 – almost half the level in 2022 – as employers put off hiring new staff in the three months to May, the Office for National Statistics said. Continue reading...

Economy
The Guardian Politics21 Jul 2026

UK borrows less than expected in June in boost for Burnham

Figure of £16bn from ONS comes after new prime minister revealed plans to cut VAT on electricity bills Business live – latest updates The UK government borrowed less than expected in June, in a boost for Andy Burnham as he set out plans to cut VAT on household electricity bills and promised a new direction for the British economy. The Office for National Statistics (ONS) said public sector net borrowing – the difference between government spending and income – was £16bn last month, £7.9bn less

Economy
The Guardian Politics21 Jul 2026

UK military ‘eyes innovative electric flying taxi’ as 2029 launch planned

Vertical Aerospace says government has given £10m backing, taking its total investment in the project to £48m British flying taxi startup Vertical Aerospace has said the UK government has expressed interest in buying a military variant of its aircraft as it races to gain approval for flights with paying passengers. Vertical also welcomed another £10m grant from the government, taking its total UK state funding to £48m. Continue reading...

EconomyDefence
The Guardian Politics21 Jul 2026

Burnham announces plans to cut VAT on electricity bills as first cost-of-living move

The newly appointed chancellor John Healey said the cut would be funded this year from cancelling the Digital ID programme Andy Burnham has announced a fresh tax cut to remove VAT from domestic electricity bills from 1 October, a move that will funded from cancelling the Digital ID programme. The prime minister said in a statement: “Westminster has not been working for people for too long, with families struggling with the cost of living. That needs to change. I said I wanted to give people brea

PoliticsEconomy
The Guardian Politics21 Jul 2026

Wealth tax on UK’s super-rich could raise £10bn a year, Andy Burnham told

New prime minister urged to introduce 2% minimum charge on households with more than £100m in wealth A wealth tax on the UK’s super-rich households could raise £10bn a year, according to academics who urged Andy Burnham to include the measure in his plans to “make tax fairer” and pay for better public services. The sum could be raised through a 2% minimum charge on households with more than £100m in wealth and would affect fewer than 1,000 of the richest UK households, according to the study by

Economy
The Guardian Politics20 Jul 2026

Andy Burnham vows to ‘bring back hope’ as he unveils his cabinet

New prime minister says government must ‘do better’ to deliver change but promises prudent approach to economy UK politics live – latest updates Andy Burnham has said his arrival in power will “bring back hope” to Britain as he launched his premiership with the surprise appointment of John Healey as chancellor and a promise to repair the damage caused to communities during the Thatcher era. The new UK prime minister acknowledged people were “fed up” with politics as he addressed the country af

PoliticsEconomy
The Guardian Politics20 Jul 2026

‘We need to be careful’: Andy Burnham’s team keenly aware of fiscal tightrope

Chancellor appointment and early policies avoid market meltdown but next week remains ‘moment of real peril’ UK politics live – latest updates Andy Burnham has not quite gone for Keir Starmer’s extreme caution in the run-up to entering No 10 – but he is certainly aware that any early wrong moves would cost him. Back in 2024, Starmer was criticised for his “Ming vase” strategy, where the leader treads very carefully so as not to drop a valuable metaphorical piece of china being carried across t

PoliticsEconomyDefence
The Guardian Politics20 Jul 2026

Andy Burnham’s first Labour cabinet: who’s in and who’s out?

From the Treasury to the Home Office, we look at who is heading up key departments in new PM’s government UK politics live – latest updates Burnham vows his arrival in power will be ‘circuit breaker’ moment for UK Six highlights from Andy Burnham’s first Downing Street speech Andy Burnham has appointed his first cabinet, with the new prime minister rewarding those who have been loyal to his takeover efforts. He had promised to pick his top team from all wings of the party in an effort to sho

PoliticsEconomyDefence
The Guardian Politics20 Jul 2026

With PM Burnham, we’ll get warmth, audacity and knowhow. For everything else, cling to hope | Polly Toynbee

He looks the part, with a rise as impressive as his speeches, but is that enough? You cannot know if someone is up to the job until they have to do it Only vaulting ambition takes anyone to No 10, but Andy Burnham’s ambition reaches phenomenal heights. Can he really make the biggest changes in 40 years? Can he build a new economy? The new prime minister lashes himself to the mast of those mighty aspirations, but adds in something even riskier – an end to rough sleeping, ordered immediately. That

EconomyDefence