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Andy Burnham, Britain's new prime minister, after his swearing-in as member of Parliament for Makerfield at the Houses of Parliament in London in June. Photo: Dan Kitwood/Getty Images

Andy Burnham will be the U.K.'s new prime minister after becoming Labour's leader Friday.

Why it matters: Burnham vaulted from regional politics to the cusp of Downing Street within weeks — an unusually rapid ascent that leaves him little time to prepare for mounting economic and political challenges.