Business · 19 May 2026
Andy Burnham commits to borrowing rules, calming markets
Rwendland via Wikimedia Commons (CC BY-SA 4.0)
UK borrowing costs dropped after Greater Manchester Mayor Andy Burnham confirmed he would stick to government spending limits. His campaign told BBC News on Monday that changing existing fiscal rules, which he had recently suggested altering, was no longer an option. Bond market expert Mohamed El-Erian said these comments helped the UK bond market perform better.
Reported by BBC · How we write briefs