Will the UK Feel the Burnham?
The bond markets are worried about Andy Burnham’s spending plans if he becomes prime minister. Can he reassure them? And does he even want to?
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Occasionally, there are turns of phrase that lodge in the political lexicon. “Being in hock to the bond markets” isn’t a saying anyone down the Dog and Duck would use, but Andy Burnham’s words last year have assumed an outsized importance.
It was the combination of a King Canute-like defiance of economic theory mixed with a wilful, unabashed desire to spend big.