Outgoing Chancellor Rachel Reeves has warned incoming Prime Minister Andy Burnham that he must have a worked-through plan to govern, saying in a BBC interview that she is handing over an economy stronger than the one she inherited from the Conservatives two years ago. Reeves credited her decisions with creating stability in the economy, though the Bank of England has warned that interest rates may still need to rise.
Burnham is expected to become prime minister on July 20 after securing the backing of 322 of Labour's 403 MPs. Home Office minister Mike Tapp said he would add his support when the Commons returns on Monday, making a rival candidacy mathematically impossible.
Culture Secretary Lisa Nandy said a Burnham government would be faster, bolder, and wear its heart on its sleeve — an apparent contrast with Sir Keir Starmer's leadership. She also suggested Burnham might explore borrowing billions to fund defence rather than relying solely on reallocating existing spending.