It comes after Sir Keir took to the podium outside Downing Street this morning to announce his decision to quit12:16, 22 Jun 2026Updated 12:20, 22 Jun 2026Andy Burnham has confirmed he will run to replace Sir Keir Starmer as UK Prime Minister - but what could this mean for your money?‌The former Greater Manchester Mayor has yet to lay out plans for what his potential premiership would look like, but the Mirror has rounded up everything he has said lately about everything from taxes to benefits and the state pension.‌It comes after Sir Keir took to the podium outside Downing Street this morning to announce his decision to quit and called for an "orderly transition" in a change of leader.‌Confirming his intention to run in the leadership race, Mr Burnham said in a post on X: "As we move forward, our priority must be to work together to get the country back to where we all want it to be."People want to see progress on economic growth, cost of living, public services, housing and opportunities for the next generation."Follow our Keir Starmer resigns blog for the latest political reaction and updates‌TaxesMr Burnham has previously hinted that he wants to revisit the income tax personal allowance, which is currently frozen until April 2031.The personal allowance is how much you can earn each year before you start to pay tax on your earnings.‌This is currently set at £12,570 a year for most people. Ms Coles said: “While he hasn’t promised that as Prime Minister he would raise it, he does want to consider it.”Mr Burnham has also previously suggested there is “definitely a case” to reintroduce the 50p top rate of income tax - although he did not specifically say whether that would be on the table if he became PM.There is currently a 45p rate of tax for those earning above £125,140. Analysts also say there could potentially be changes to council tax, inheritance tax and stamp duty under his premiership.‌Ms Coles said: “He has mentioned land as being undertaxed and has spoken about reforming council tax and stamp duty, which he says is regressive.“Before this campaign he had previously suggested inheritance tax ought to be scrapped and replaced with a ‘care levy’ to fund a more joined up national health service and social care system.“He said the inheritance tax changes for farmers should be reconsidered too.“‌State pensionMr Burnham last week said he would commit to keeping the state pension triple lock. The triple lock is used to decide how much the state pension increases by every year.It dictates that the state pension will rise every April based on whichever is highest out of earnings growth in between May to July, inflation in September, or 2.5%.In an interview with the i Paper, Mr Burnham said that tearing up the manifesto commitment would be a “very damaging thing to do”.‌Mr Burnham has also shown his support millions of WASPI women born in the 1950s who were affected by changes to the state pension age.But he has stopped short of saying he would back payouts - instead saying he would look at other ways to offer non-cash benefits to them.Ministers have repeatedly rejected calls for compensation, with estimates that it would cost £10.5billion to pay all WASPI women.‌Ms Coles said: "His team clarified that he hadn’t meant full financial compensation. One suggestion is that they might get earlier access to cheaper travel schemes."BenefitsMr Burnham last week said he would cut the benefits bill to in order to boost spending on defence.He told the i Paper that this can be done without introducing “crude cuts” and said his measures would focus on ”rethinking the education system” to get young people into work.‌Ms Coles said: “Burnham has opposed benefit cuts in the past. More recently he has said he would cut the benefits bill in order to boost spending on defence, but that he would focus on providing more opportunities, so that people were able to work, rather than just making short-term cuts.“He believes a localised approach to delivering state support would be more efficient and effective.“InvestmentsAndy Burnham has indicated that he would impose stronger public control over key services like energy, transport and water.‌This would be of particular interest for investors holding shares in these types of companies.In terms of wider financial markets, Dan Coatsworth, head of markets for AJ Bell, said all eyes will be whether Rachel Reeves would be replaced as Chancellor under a new Cabinet.He said: “Burnham’s choice of Chancellor if he becomes Prime Minister could have a major impact on bond markets.Article continues below“Bond investors like boring and dull – they want someone who has a plan where the maths stacks up and they stick to it.“The pound bounced back from early losses on Monday morning after Sir Keir confirmed his plan to step down. The FTSE 100 Index was little changed and UK Government bond yields held steady.