Politics · 2 September 2026
Burnham’s £14bn tax hike fears after market turmoil
© House of Commons
Prime Minister Andy Burnham’s first Commons appearance was overshadowed by a market rout, sending government borrowing costs to multi-decade highs. Economists warn Chancellor John Healey may need to find up to £14 billion in tax rises or spending cuts for the autumn Budget. Burnham’s speech was criticised by allies for lacking a “sensible fiscal strategy” and blaming past events.
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